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

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Raymond James decreased their Q3 2024 earnings per share (EPS) estimates for shares of Cameco in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.31 per share for the quarter, down from their prior forecast 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.

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

Several other research firms also recently commented on CCJ. The Goldman Sachs Group began coverage on Cameco in a report on Monday, April 1st. They issued a “buy” rating and a $55.00 price objective for the company. StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco currently has an average 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. Cameco has a twelve month low of $25.72 and a twelve month high of $52.64. The company has a quick ratio of 0.97, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $44.28 and a two-hundred day moving average price of $43.85. The company has a market cap of $21.35 billion, a P/E ratio of 81.97 and a beta of 0.92.

Institutional Investors Weigh In On Cameco

Several large investors have recently made changes to their positions in CCJ. FMR LLC raised its stake in Cameco by 21.6% in the 3rd quarter. FMR LLC now owns 27,418,564 shares of the basic materials company’s stock valued at $1,087,629,000 after acquiring an additional 4,865,085 shares during the period. Vanguard Group Inc. raised its stake in Cameco by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 15,711,083 shares of the basic materials company’s stock valued at $677,148,000 after acquiring an additional 162,569 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Cameco by 6.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock valued at $581,558,000 after acquiring an additional 869,404 shares during the period. Morgan Stanley raised its stake in Cameco by 5.8% in the 3rd quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after acquiring an additional 428,310 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Cameco by 74.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,730,858 shares of the basic materials company’s stock valued at $227,365,000 after acquiring an additional 2,442,190 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.