Brokers Offer Predictions for Cameco Co.’s Q3 2024 Earnings (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Research analysts at Raymond James cut their Q3 2024 earnings per share (EPS) estimates for shares of Cameco in a research report 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 previous forecast of $0.32. The consensus estimate for Cameco’s current full-year earnings is $1.54 per share. Raymond James also issued estimates for Cameco’s FY2024 earnings at $1.25 EPS.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data 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). The business had revenue of $620.00 million for the quarter. Cameco had a net margin of 13.97% and a return on equity of 5.61%.

Several other research firms have also weighed in on CCJ. The Goldman Sachs Group began coverage on Cameco in a research report on Monday, April 1st. They set a “buy” rating and a $55.00 price target on the stock. StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

Cameco Trading Up 0.3 %

NYSE CCJ opened at $49.31 on Thursday. The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 82.18 and a beta of 0.92. Cameco has a 52 week low of $25.72 and a 52 week high of $52.64. The stock’s 50 day moving average price is $44.43 and its two-hundred day moving average price is $43.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 1.55.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC grew its stake in Cameco by 235.3% during the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Principal Securities Inc. purchased a new position in shares of Cameco in the fourth quarter valued at $29,000. Allworth Financial LP grew its position in shares of Cameco by 1,049.2% in the third quarter. Allworth Financial LP now owns 747 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 682 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Cameco in the fourth quarter valued at $34,000. Finally, Sandy Spring Bank bought a new stake in Cameco during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.