CAMECO CORPORATION vs Freeport-McMoRan Inc., two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither page prints production growth, but both prices are growth claims about electricity: Cameco at 105.3 times earnings for the reactors being restarted and ordered, Freeport with no clean trailing multiple for the copper those grids will draw. The current economics are modest at both, returns on equity of 8.5% and 15.1%, free-cash yields under 2%. Cameco is debt-free; Freeport carries 0.31 turns and pays the 1% dividend. The pair is one energy-transition thesis split into fuel and wire, both priced years ahead of their income statements; a buyer here has chosen the destination and is merely picking the vehicle.
Comparison updated 2026-07-10.
| Metric | CCJ | FCX |
|---|---|---|
| Price | $104.56 | $62.31 |
| Market cap | $45.5B | $90.0B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +23.0% |
| P/E | 105.3 | — |
| P/B | 8.97 | 2.86 |
| P/S | 17.78 | 3.40 |
| EV/EBITDA | 66.7 | 12.2 |
| Revenue growth | +24.4% | +6.2% |
| Gross margin | 27.9% | — |
| Operating margin | 17.8% | 34.2% |
| Net margin | 16.9% | 17.9% |
| Return on equity | 8.5% | 15.1% |
| Return on assets | 5.7% | 8.1% |
| Return on invested capital | 6.8% | 14.0% |
| FCF yield | 1.7% | 1.9% |
| Dividend yield | — | 1.0% |
| Debt / equity | 0.00 | 0.31 |
| Current ratio | 2.47 | 2.39 |
| Altman Z (solvency) | 7.21 | 2.76 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.