Equities Analysts Issue Forecasts for Cameco FY2024 Earnings

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Equities researchers at National Bank Financial increased their FY2024 earnings estimates for Cameco in a research report issued to clients and investors on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now forecasts that the company will post earnings of $0.69 per share for the year, up from their prior forecast of $0.66. National Bank Financial currently has a “Strong-Buy” rating on the stock. National Bank Financial also issued estimates for Cameco’s FY2025 earnings at $1.64 EPS.

A number of other equities research analysts also recently issued reports on CCO. Cantor Fitzgerald upgraded Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Eight Capital upped their target price on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Scotiabank lifted their price target on shares of Cameco from C$80.00 to C$86.00 in a research note on Tuesday. BMO Capital Markets upped their price objective on Cameco from C$78.00 to C$84.00 in a research note on Friday, November 8th. Finally, Canaccord Genuity Group raised their target price on Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Seven analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and an average price target of C$82.00.

Cameco Trading Up 2.4 %

TSE:CCO opened at C$80.22 on Monday. The company has a 50 day simple moving average of C$67.13 and a two-hundred day simple moving average of C$66.22. The company has a market cap of C$34.91 billion, a PE ratio of 136.44, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 25.39. Cameco has a 12 month low of C$48.71 and a 12 month high of C$81.12.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.16 dividend. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is presently 20.34%.

Insider Buying and Selling at Cameco

In other news, Senior Officer Brian Arthur Reilly sold 14,062 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total transaction of C$1,124,678.76. Also, Senior Officer Ronald Liam Mooney sold 3,400 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of C$70.49, for a total value of C$239,666.00. Insiders own 0.15% 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.