National Bank Financial Boosts Earnings Estimates for Cameco

Cameco Co. (NYSE:CCJ) (TSE:CCO) – National Bank Financial upped their FY2024 earnings per share 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 per share of $0.50 for the year, up from their previous estimate of $0.48. National Bank Financial currently 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) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year.

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

Cameco Price Performance

Shares of CCJ opened at $57.44 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. Cameco has a 1-year low of $35.43 and a 1-year high of $58.72. The stock has a market cap of $25.00 billion, a PE ratio of 302.33 and a beta of 0.89. The firm has a fifty day moving average price of $50.11 and a 200 day moving average price of $48.41.

Hedge Funds Weigh In On Cameco

A number of large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA raised 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 buying an additional 191 shares in the last quarter. S.A. Mason LLC grew its holdings in 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 acquiring an additional 206 shares during the period. Silvia Mccoll Wealth Management LLC raised its position in Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after acquiring an additional 210 shares in the last quarter. EdgeRock Capital LLC boosted its position in shares of Cameco by 1.7% during the 3rd 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 in the last quarter. Finally, LRI Investments LLC boosted its position in shares of Cameco by 39.0% during the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Increases Dividend

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