Cameco Co. (NYSE:CCJ) to Post Q3 2024 Earnings of $0.31 Per Share, Raymond James Forecasts

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Analysts at Raymond James cut their Q3 2024 earnings per share estimates for Cameco in a research note issued on Monday, April 22nd. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings of $0.31 per share for the quarter, down from their prior estimate of $0.32. The consensus estimate for Cameco’s current full-year earnings is $1.55 per share. Raymond James also issued estimates for Cameco’s FY2024 earnings at $1.25 EPS.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group started coverage on Cameco in a research note on Monday, April 1st. They issued a “buy” rating and a $55.00 price target on the stock. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

Cameco Trading Up 0.9 %

NYSE:CCJ opened at $49.18 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 1.55. Cameco has a one year low of $25.72 and a one year high of $52.64. The business’s 50-day simple moving average is $44.28 and its 200 day simple moving average is $43.85. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of 81.97 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a return on equity of 5.61% and a net margin of 13.97%. The company had revenue of $620.00 million during the quarter.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in Cameco by 5.8% during the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after buying an additional 428,310 shares in the last quarter. Guardian Capital LP raised its position in shares of Cameco by 40.7% during the 3rd quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock worth $34,451,000 after purchasing an additional 250,115 shares during the period. Foster Victor Wealth Advisors LLC acquired a new stake in shares of Cameco during the 4th quarter worth approximately $3,956,000. Financial Insights Inc. acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $1,942,000. Finally, Platinum Investment Management Ltd. raised its position in shares of Cameco by 156.3% during the 3rd quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock worth $122,605,000 after purchasing an additional 1,884,004 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.