National Bank Financial Forecasts Cameco FY2024 Earnings

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities researchers at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for shares of Cameco in a research note issued to investors on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now forecasts that the basic materials company will post earnings of $0.50 per share for the year, up from their previous forecast 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.

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

Cameco Trading Up 2.8 %

Shares of Cameco stock opened at $57.44 on Monday. The stock has a 50 day moving average of $50.11 and a 200 day moving average of $48.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 302.33 and a beta of 0.89. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its 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 during the quarter, compared to analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Investors 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 boost from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is 47.37%.

Institutional Investors Weigh In On Cameco

Several large investors have recently added to or reduced their stakes in CCJ. Envestnet Portfolio Solutions Inc. acquired a new position in Cameco during the 1st quarter worth $232,000. US Bancorp DE increased its stake in shares of Cameco by 3.0% during the first quarter. US Bancorp DE now owns 26,933 shares of the basic materials company’s stock worth $1,167,000 after buying an additional 773 shares during the period. Blair William & Co. IL raised its holdings in Cameco by 2.0% in the first quarter. Blair William & Co. IL now owns 30,087 shares of the basic materials company’s stock valued at $1,303,000 after acquiring an additional 601 shares in the last quarter. Intech Investment Management LLC purchased a new position in Cameco in the first quarter worth approximately $1,056,000. Finally, Vanguard Group Inc. grew its holdings in Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.