National Bank Financial Comments on Cameco Co.’s FY2024 Earnings (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities research analysts at National Bank Financial issued their FY2024 EPS estimates for Cameco in a research note issued on Tuesday, September 3rd. National Bank Financial analyst M. Sidibe anticipates that the basic materials company will earn $0.75 per share for the year. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Cameco’s FY2025 earnings at $1.22 EPS, FY2026 earnings at $1.35 EPS and FY2027 earnings at $1.62 EPS.

A number of other analysts have also issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Bank of America increased their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Scotiabank dropped their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Glj Research reiterated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cameco presently has a consensus rating of “Buy” and an average target price of $67.25.

Cameco Trading Down 2.3 %

Shares of NYSE CCJ opened at $38.10 on Friday. The stock has a fifty day simple moving average of $44.14 and a 200-day simple moving average of $46.57. Cameco has a twelve month low of $35.18 and a twelve month high of $56.24. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $16.58 billion, a PE ratio of 97.69 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. During the same period in the previous year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 24.1% on a year-over-year basis.

Institutional Investors Weigh In On Cameco

Institutional investors have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Cameco in the first quarter valued at $26,000. Principal Securities Inc. acquired a new stake in shares of Cameco during the 4th quarter worth about $29,000. Lindbrook Capital LLC lifted its stake in Cameco by 26.0% during the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 221 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in Cameco in the first quarter valued at approximately $87,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.