National Bank Financial Expects Lower Earnings for Cameco

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Equities researchers at National Bank Financial lowered their FY2024 earnings estimates for Cameco in a research note issued to investors on Wednesday, February 12th. National Bank Financial analyst M. Sidibe now anticipates that the company will earn $0.62 per share for the year, down from their previous forecast of $0.73. National Bank Financial also issued estimates for Cameco’s FY2024 earnings at $0.62 EPS, FY2025 earnings at $1.60 EPS, FY2025 earnings at $1.60 EPS, FY2026 earnings at $1.85 EPS and FY2026 earnings at $1.85 EPS.

Other equities analysts have also recently issued reports about the stock. National Bankshares raised their price objective on shares of Cameco from C$85.00 to C$87.00 in a research note on Friday, November 8th. Eight Capital raised their price objective on shares of Cameco from C$80.00 to C$90.00 in a research note on Friday, November 8th. Scotiabank raised their price objective on shares of Cameco from C$80.00 to C$86.00 in a research note on Tuesday, November 19th. Raymond James raised their price objective on shares of Cameco from C$81.00 to C$88.00 in a research note on Friday, November 22nd. Finally, BMO Capital Markets raised their price objective on shares of Cameco from C$78.00 to C$84.00 in a research note on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$84.30.

Cameco Price Performance

CCO opened at C$66.88 on Monday. Cameco has a one year low of C$48.71 and a one year high of C$88.18. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company’s 50 day simple moving average is C$74.32 and its 200-day simple moving average is C$68.99. The stock has a market capitalization of C$29.44 billion, a P/E ratio of 252.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Insiders Place Their Bets

In related news, Senior Officer Tim Scott Gitzel sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$85.66, for a total transaction of C$4,283,000.00. Also, Senior Officer Sean Anthony Quinn sold 13,400 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$83.63, for a total transaction of C$1,120,642.00. Over the last three months, insiders have sold 78,962 shares of company stock worth $6,650,076. Company insiders own 0.15% of the company’s stock.

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.