National Bank Financial Forecasts Cameco FY2024 Earnings

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Equities research analysts at National Bank Financial increased their FY2024 EPS estimates for Cameco in a report released on Wednesday, November 13th. National Bank Financial analyst M. Sidibe now expects that the company will post earnings of $0.69 per share for the year, up from their prior forecast of $0.66. National Bank Financial has a “Strong-Buy” rating on the stock. National Bank Financial also issued estimates for Cameco’s FY2025 earnings at $1.64 EPS.

Several other brokerages also recently weighed in on CCO. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. Eight Capital raised their price target on shares of Cameco from C$80.00 to C$90.00 in a research note on Friday, November 8th. Cantor Fitzgerald raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. National Bankshares raised their target price on shares of Cameco from C$85.00 to C$87.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets upped their target price on Cameco from C$78.00 to C$84.00 in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$82.00.

Cameco Stock Performance

Shares of TSE:CCO opened at C$80.22 on Monday. Cameco has a 12 month low of C$48.71 and a 12 month high of C$81.12. The firm’s 50-day moving average is C$67.13 and its 200 day moving average is C$66.22. The company has a market capitalization of C$34.91 billion, a price-to-earnings ratio of 136.44, a PEG ratio of 2.22 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 25.39.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.16 dividend. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 20.34%.

Insider Buying and Selling

In related news, Senior Officer Brian Arthur Reilly sold 14,062 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total transaction of C$1,124,678.76. Also, Senior Officer Ronald Liam Mooney sold 3,400 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$70.49, for a total transaction of C$239,666.00. 0.15% of the stock is currently owned by company insiders.

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.