Cameco Co. (NYSE:CCJ) to Post Q3 2024 Earnings of $0.23 Per Share, Raymond James Forecasts

Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO - Analysts at Raymond James decreased their Q3 2024 earnings per share estimates for shares of Cameco in a research report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.24. The consensus estimate for Cameco's current full-year earnings is $0.91 per share. Raymond James also issued estimates for Cameco's Q4 2024 earnings at $0.38 EPS and FY2024 earnings at $0.81 EPS.

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

Several other research analysts have also recently weighed in on CCJ. Cantor Fitzgerald raised Cameco from a "neutral" rating to an "overweight" rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on shares of Cameco from $56.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, June 7th. Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a "buy" rating in a report on Wednesday, June 26th. Scotiabank dropped their price target on Cameco from $81.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Finally, National Bank Financial upgraded Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $67.25.

Cameco Price Performance

CCJ traded up $0.82 during trading on Wednesday, reaching $47.59. The stock had a trading volume of 4,643,296 shares, compared to its average volume of 4,360,599. The stock has a 50 day moving average of $41.55 and a two-hundred day moving average of $46.60. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 122.03 and a beta of 0.90. Cameco has a 1-year low of $35.18 and a 1-year high of $56.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Heritage Wealth Management Inc. acquired a new position in Cameco in the 2nd quarter valued at approximately $402,000. Sanctuary Advisors LLC purchased a new stake in shares of Cameco during the second quarter worth $349,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Cameco during the second quarter valued at $202,000. Granite Bay Wealth Management LLC purchased a new position in Cameco in the second quarter valued at about $273,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Cameco in the 2nd quarter worth about $542,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.