Desjardins Has Pessimistic View of Cameco FY2027 Earnings

Cameco Corporation (NYSE:CCJ) (TSE:CCO) – Analysts at Desjardins dropped their FY2027 earnings per share (EPS) estimates for shares of Cameco in a research note issued to investors on Monday, June 16th. Desjardins analyst B. Adams now expects that the basic materials company will post earnings per share of $1.54 for the year, down from their prior forecast of $1.63. Desjardins has a “Buy” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $1.27 per share.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to analysts’ expectations of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share.

A number of other equities research analysts have also issued reports on CCJ. Stifel Nicolaus assumed coverage on Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Glj Research reaffirmed a “buy” rating and issued a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. The Goldman Sachs Group raised their target price on Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $75.63.

Cameco Price Performance

CCJ stock opened at $69.67 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. The firm has a market capitalization of $30.33 billion, a P/E ratio of 174.17 and a beta of 0.97. The business’s 50-day moving average is $52.55 and its two-hundred day moving average is $49.79. Cameco has a 1 year low of $35.00 and a 1 year high of $71.31.

Hedge Funds Weigh In On Cameco

Hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. boosted its stake in Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after purchasing an additional 3,959,837 shares during the period. Norges Bank acquired a new position in Cameco in the fourth quarter valued at $188,595,000. FMR LLC increased its stake in Cameco by 8.7% in the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares during the period. Canada Pension Plan Investment Board increased its stake in Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock valued at $83,636,000 after purchasing an additional 1,387,797 shares during the period. Finally, Temasek Holdings Private Ltd acquired a new position in Cameco in the first quarter valued at $55,513,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.