National Bank Financial Predicts Cameco FY2024 Earnings

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Stock analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Cameco in a research report issued to clients and investors on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now forecasts that the basic materials company will post earnings of $0.50 per share for the year, up from their prior estimate of $0.48. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $0.70 per share. National Bank Financial also issued estimates for Cameco’s FY2025 earnings at $1.18 EPS.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business’s revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS.

Several other research analysts have also recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cameco presently has an average rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

Shares of NYSE:CCJ opened at $53.59 on Monday. The firm’s 50 day moving average price is $49.73 and its 200-day moving average price is $48.35. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $23.32 billion, a PE ratio of 282.07 and a beta of 0.89. Cameco has a twelve month low of $35.43 and a twelve month high of $58.72.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s payout ratio is presently 47.37%.

Institutional Investors Weigh In On Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its stake in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares during the last quarter. S.A. Mason LLC lifted its position in shares of Cameco by 6.0% during the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC boosted its stake in shares of Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 210 shares during the period. EdgeRock Capital LLC grew its holdings in shares of Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 224 shares during the last quarter. Finally, LRI Investments LLC increased its stake in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.