CAMECO CORPORATION vs WHEATON PRECIOUS METALS CORP., two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Cameco mines and refines uranium, holding the fuel cycle's operating risks; Wheaton holds streaming contracts on other companies' silver and gold, holding almost none, and both are priced as category darlings: 105.3 and 35 times earnings. Wheaton's model prints a 63.6% net margin and 16.9% returns on equity with zero operational surprise; Cameco's prints 16.9% margins and 8.5% returns with plenty. Free cash favors the streamer, 3.7% against 1.7%. Both are debt-free. The pair holds mining's two most expensive stories, insulation and renaissance; the insulation is at least already producing its cash, which at these prices counts as conservatism.
Comparison updated 2026-07-10.
| Metric | CCJ | WPM |
|---|---|---|
| Price | $104.56 | $113.45 |
| Market cap | $45.5B | $51.5B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| P/E | 105.3 | 35.0 |
| P/B | 8.97 | 5.93 |
| P/S | 17.78 | 22.25 |
| EV/EBITDA | 66.7 | 31.8 |
| Revenue growth | +24.4% | +22.7% |
| Gross margin | 27.9% | 72.2% |
| Operating margin | 17.8% | 68.3% |
| Net margin | 16.9% | 63.6% |
| Return on equity | 8.5% | 16.9% |
| Return on assets | 5.7% | 16.1% |
| Return on invested capital | 6.8% | 15.8% |
| FCF yield | 1.7% | 3.7% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.47 | 7.78 |
| Altman Z (solvency) | 7.21 | 7.68 |
| 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.