National Bank Financial Lifts Earnings Estimates for Cameco

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities research analysts at National Bank Financial upped their FY2024 EPS estimates for shares of Cameco in a note issued to investors on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now forecasts that the basic materials company will earn $0.50 per share for the year, up from their previous estimate of $0.48. National Bank Financial 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.

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

Cameco Stock Up 4.3 %

Shares of NYSE:CCJ opened at $55.89 on Monday. The firm has a market capitalization of $24.32 billion, a P/E ratio of 292.49 and a beta of 0.89. 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 stock has a 50 day moving average price of $49.73 and a 200-day moving average price of $48.36. Cameco has a 52-week low of $35.43 and a 52-week high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Cameco in the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. Pingora Partners LLC bought a new stake in Cameco in the 3rd quarter worth about $33,000. First Horizon Advisors Inc. raised its position in Cameco by 84.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 550 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.118 dividend. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s payout ratio is presently 47.37%.

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.