Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities researchers at Raymond James issued their FY2022 earnings per share estimates for Cameco in a research note issued on Monday, April 5th. Raymond James analyst B. Macarthur forecasts that the basic materials company will post earnings per share of $0.65 for the year. Raymond James currently has a “Outperform” rating and a $20.00 price target on the stock.
Several other equities research analysts also recently weighed in on CCJ. Scotiabank raised their price objective on Cameco from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. Royal Bank of Canada downgraded Cameco from a “sector perform” rating to an “underperform” rating and set a $16.00 price objective on the stock. in a report on Wednesday, December 16th. Cantor Fitzgerald downgraded Cameco from a “buy” rating to a “hold” rating in a report on Monday, December 14th. TD Securities raised their price objective on Cameco from $18.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, February 11th. Finally, Zacks Investment Research raised Cameco from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a report on Friday, March 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Cameco has a consensus rating of “Hold” and a consensus target price of $20.50.
Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, February 9th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. Cameco had a negative return on equity of 0.34% and a negative net margin of 0.09%. The company had revenue of $550.00 million for the quarter, compared to analyst estimates of $395.88 million. During the same quarter last year, the company posted $0.24 EPS. The company’s revenue for the quarter was down 36.9% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Confluence Investment Management LLC lifted its holdings in Cameco by 15.2% during the 1st quarter. Confluence Investment Management LLC now owns 19,983 shares of the basic materials company’s stock worth $332,000 after buying an additional 2,630 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Cameco by 539.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 83,352 shares of the basic materials company’s stock valued at $1,133,000 after purchasing an additional 70,318 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in Cameco by 700.6% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,195,785 shares of the basic materials company’s stock valued at $16,024,000 after buying an additional 1,046,425 shares in the last quarter. Mufg Securities Canada LTD. bought a new stake in Cameco in the 4th quarter valued at about $2,820,000. Finally, Norges Bank bought a new stake in Cameco during the 4th quarter worth approximately $59,709,000. 60.24% of the stock is currently owned by hedge funds and other institutional investors.
Cameco Company Profile
Cameco Corporation produces and sells uranium. It operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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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