Cameco FY2024 EPS Forecast Raised by National Bank Financial

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Research analysts at National Bank Financial lifted their FY2024 EPS estimates for shares of Cameco in a report released on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now expects that the basic materials company will post earnings of $0.50 per share for the year, up from their prior forecast 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.

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

Cameco Stock Performance

CCJ stock opened at $53.59 on Monday. The business has a 50 day moving average of $49.73 and a 200-day moving average of $48.35. The firm has a market cap of $23.32 billion, a PE ratio of 282.07 and a beta of 0.89. Cameco has a 12-month low of $35.43 and a 12-month high of $58.72. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Cameco by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,911,614 shares of the basic materials company’s stock worth $91,558,000 after purchasing an additional 177,551 shares during the period. Segra Capital Management LLC bought a new stake in shares of Cameco during the third quarter valued at approximately $53,013,000. Duff & Phelps Investment Management Co. raised its holdings in Cameco by 31.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 13,853 shares of the basic materials company’s stock worth $662,000 after acquiring an additional 3,322 shares during the last quarter. Continuum Advisory LLC lifted its position in Cameco by 108,100.0% in the 3rd quarter. Continuum Advisory LLC now owns 31,378 shares of the basic materials company’s stock valued at $1,499,000 after acquiring an additional 31,349 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd increased its holdings in shares of Cameco by 32.3% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 5,420 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 1,323 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Increases Dividend

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

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.