National Bank Financial Comments on Cameco Q3 Earnings

Cameco Co. (NYSE:CCJ) (TSE:CCO) – National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of Cameco in a note issued to investors on Wednesday, October 23rd. National Bank Financial analyst M. Sidibe expects that the basic materials company will post earnings per share of $0.17 for the quarter. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $0.83 per share.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s revenue for the quarter was up 24.1% on a year-over-year basis.

Several other research firms also recently weighed in on CCJ. Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank decreased their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note 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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 2.6 %

Shares of NYSE:CCJ opened at $55.19 on Monday. The business has a 50-day moving average price of $45.96 and a 200 day moving average price of $47.88. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 140.08 and a beta of 0.90. Cameco has a 12-month low of $35.43 and a 12-month high of $58.72.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. LRI Investments LLC acquired a new stake in Cameco during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after buying an additional 600 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Cameco by 68.8% in the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after buying an additional 642 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.