Scotiabank Has Bullish Outlook for Cameco FY2025 Earnings

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Analysts at Scotiabank increased their FY2025 earnings per share (EPS) estimates for Cameco in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will earn $0.82 per share for the year, up from their previous forecast of $0.68. The consensus estimate for Cameco’s current full-year earnings is $0.51 per share.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period last year, the company posted $0.24 earnings per share. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis.

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One equities research 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 MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

Shares of NYSE CCJ opened at $49.20 on Friday. The stock has a fifty day simple moving average of $54.75 and a two-hundred day simple moving average of $49.26. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 258.96 and a beta of 0.95. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On Cameco

Several institutional investors have recently made changes to their positions in CCJ. Massachusetts Financial Services Co. MA purchased a new stake in shares of Cameco in the second quarter worth $73,125,000. CIBC Asset Management Inc raised its position in shares of Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares in the last quarter. M&G PLC purchased a new stake in shares of Cameco in the third quarter worth $66,227,000. Segra Capital Management LLC purchased a new stake in shares of Cameco in the third quarter worth $53,013,000. Finally, Fred Alger Management LLC raised its position in shares of Cameco by 99.7% in the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after buying an additional 839,077 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 was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 63.16%.

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.