Cameco Co. (NYSE:CCJ – Free Report) (TSE:CCO) – Raymond James upped their FY2023 earnings per share (EPS) estimates for shares of Cameco in a research note issued to investors on Thursday, September 14th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $0.59 per share for the year, up from their prior forecast of $0.57. The consensus estimate for Cameco’s current full-year earnings is $0.63 per share. Raymond James also issued estimates for Cameco’s Q4 2023 earnings at $0.26 EPS, Q1 2024 earnings at $0.43 EPS, Q2 2024 earnings at $0.37 EPS, Q3 2024 earnings at $0.45 EPS, Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $1.81 EPS.
Several other equities analysts have also recently issued reports on CCJ. Bank of America lifted their price objective on Cameco from C$50.00 to C$59.00 and gave the stock a “buy” rating in a report on Tuesday, September 5th. Cantor Fitzgerald cut Cameco from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. TD Securities raised their price target on Cameco from C$51.00 to C$55.00 and gave the stock an “action list buy” rating in a research report on Thursday, August 3rd. Canaccord Genuity Group raised their price target on Cameco from $49.50 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Finally, Scotiabank dropped their price target on Cameco from C$50.00 to C$49.00 in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average price target of $55.00.
Cameco Stock Performance
Shares of CCJ stock opened at $40.30 on Monday. The stock has a fifty day moving average price of $34.90 and a 200 day moving average price of $30.19. The stock has a market cap of $17.48 billion, a PE ratio of 268.67, a P/E/G ratio of 1.07 and a beta of 1.00. Cameco has a 1 year low of $21.02 and a 1 year high of $41.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.00 and a current ratio of 3.64.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). Cameco had a net margin of 4.67% and a return on equity of 2.74%. The firm had revenue of $482.00 million during the quarter, compared to analyst estimates of $636.37 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Cameco by 17.1% in the second quarter. Larson Financial Group LLC now owns 2,236 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 326 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Cameco by 2.6% during the fourth quarter. Moors & Cabot Inc. now owns 15,626 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 400 shares in the last quarter. Colonial Trust Advisors lifted its stake in shares of Cameco by 1.3% during the first quarter. Colonial Trust Advisors now owns 35,394 shares of the basic materials company’s stock worth $926,000 after purchasing an additional 450 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cameco by 0.3% during the second quarter. PNC Financial Services Group Inc. now owns 154,241 shares of the basic materials company’s stock worth $4,832,000 after purchasing an additional 460 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its stake in shares of Cameco by 2.2% during the first quarter. Wetherby Asset Management Inc. now owns 21,835 shares of the basic materials company’s stock worth $571,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds own 66.57% of the company’s stock.
Cameco Company Profile
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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