One fund took a little uranium chips off the table

One fund, one trim, not a thesis collapse

Foster Victor Wealth Advisors shaved 10.3% off its Cameco position, selling 14,110 shares and ending the quarter with 123,190 shares worth roughly $11.27 million. That’s a real move, sure — but it’s more “lighten up a little” than “run for the exits.”

The bigger Cameco story is still the uranium trade

Here’s the weirdly energizing part: the article also says Cameco is still sitting in the middle of a pretty bullish analyst crowd, with 11 Buy ratings and just 3 Holds. The average price target comes in at $150.40, which suggests Wall Street still thinks the uranium party has room to run.

Earnings are doing some of the heavy lifting

Cameco also just beat quarterly estimates, posting EPS of $0.36 versus $0.29 expected and revenue of $874.6 million versus $782.1 million. That’s the kind of beat that can keep a stock like this feeling less like a commodity name and more like a momentum trade with a nuclear-grade tailwind.

Big picture

The stock opened around $116.11 and the headline move from one institution trimming shares is not the main event. What matters more is that Cameco still has the market’s attention, the earnings are cooperating, and analysts are basically saying, “Maybe don’t bet against nuclear right now.”