Q3 2023 Earnings Forecast for Cameco Co. (NYSE:CCJ) Issued By Raymond James

Cameco Co. (NYSE:CCJ – Free Report) (TSE:CCO) – Investment analysts at Raymond James cut their Q3 2023 EPS estimates for Cameco in a report issued on Tuesday, September 5th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.17. Raymond James currently has a “Outperform” rating and a $52.00 target price on the stock. The consensus estimate for Cameco’s current full-year earnings is $0.79 per share. Raymond James also issued estimates for Cameco’s Q4 2023 earnings at $0.24 EPS, FY2023 earnings at $0.57 EPS, Q1 2024 earnings at $0.39 EPS, Q2 2024 earnings at $0.34 EPS, Q3 2024 earnings at $0.39 EPS, Q4 2024 earnings at $0.48 EPS and FY2024 earnings at $1.60 EPS.

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Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The company had revenue of $482.00 million for the quarter, compared to analysts’ expectations of $636.37 million. Cameco had a return on equity of 2.74% and a net margin of 4.67%. The business’s revenue was down 13.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share.

A number of other equities analysts also recently issued reports on CCJ. Scotiabank dropped their price objective on shares of Cameco from C$50.00 to C$49.00 in a research note on Wednesday, June 28th. TD Securities increased their price objective on shares of Cameco from C$51.00 to C$55.00 and gave the company an “action list buy” rating in a research note on Thursday, August 3rd. Canaccord Genuity Group increased their price objective on shares of Cameco from $49.50 to $56.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com started coverage on shares of Cameco in a research note on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Cantor Fitzgerald downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.20.

View Our Latest Stock Report on Cameco

Cameco Stock Performance

Shares of NYSE:CCJ opened at $36.84 on Wednesday. The firm has a market cap of $15.96 billion, a PE ratio of 245.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.00. The firm’s 50 day simple moving average is $33.78 and its 200-day simple moving average is $29.64. Cameco has a one year low of $21.02 and a one year high of $37.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.00 and a current ratio of 3.64.

Institutional Investors Weigh In On Cameco

Several institutional investors have recently bought and sold shares of CCJ. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cameco by 37.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company’s stock valued at $497,555,000 after acquiring an additional 4,644,453 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cameco by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 454,418 shares of the basic materials company’s stock worth $13,223,000 after buying an additional 9,757 shares during the period. American Century Companies Inc. lifted its stake in shares of Cameco by 6.0% during the first quarter. American Century Companies Inc. now owns 25,154 shares of the basic materials company’s stock worth $733,000 after buying an additional 1,414 shares during the period. BlackRock Inc. lifted its stake in shares of Cameco by 10.4% during the first quarter. BlackRock Inc. now owns 554,571 shares of the basic materials company’s stock worth $16,138,000 after buying an additional 52,341 shares during the period. Finally, Aviva PLC acquired a new stake in shares of Cameco during the first quarter worth $819,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.

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