National Bank Financial Expects Stronger Earnings for Cameco

Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO - National Bank Financial lifted their FY2024 earnings estimates for Cameco in a report issued 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 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.

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

Cameco Stock Up 4.3 %

Shares of Cameco stock traded up $2.30 on Monday, reaching $55.89. The stock had a trading volume of 6,850,729 shares, compared to its average volume of 4,454,128. The stock 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 50 day moving average price of $49.73 and a 200 day moving average price of $48.36. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. Cameco has a 1 year low of $35.43 and a 1 year high of $58.72.

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

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This is an increase from Cameco's previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. Cameco's dividend payout ratio is currently 47.37%.

Hedge Funds Weigh In On Cameco

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company's stock valued at $689,306,000 after purchasing an additional 200,871 shares during the period. Capital World Investors boosted its position in Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company's stock worth $593,524,000 after purchasing an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cameco by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company's stock valued at $282,210,000 after buying an additional 202,157 shares during the period. William Blair Investment Management LLC increased its position in shares of Cameco by 6.8% in the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company's stock valued at $204,672,000 after acquiring an additional 265,196 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in Cameco by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company's stock worth $192,622,000 after purchasing an additional 176,183 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.