Raymond James Comments on Cameco Co.’s Q3 2024 Earnings (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities research analysts at Raymond James lifted their Q3 2024 earnings per share (EPS) estimates for shares of Cameco in a research note issued to investors on Tuesday, April 30th. Raymond James analyst B. Macarthur now expects that the basic materials company will earn $0.32 per share for the quarter, up from their previous forecast of $0.31. The consensus estimate for Cameco’s current full-year earnings is $1.37 per share. Raymond James also issued estimates for Cameco’s FY2024 earnings at $0.93 EPS.

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

Cameco Stock Performance

NYSE CCJ opened at $48.41 on Friday. The company has a market cap of $21.02 billion, a P/E ratio of 124.13 and a beta of 0.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.42. The business’s 50 day moving average price is $45.07 and its 200-day moving average price is $44.36. Cameco has a fifty-two week low of $26.15 and a fifty-two week high of $52.64.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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). The company had revenue of $620.00 million for the quarter. Cameco had a net margin of 9.28% and a return on equity of 4.60%.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in CCJ. Venturi Wealth Management LLC grew its position in shares of Cameco by 235.3% during the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after buying an additional 400 shares in the last quarter. Principal Securities Inc. purchased a new stake in Cameco in the fourth quarter valued at about $29,000. Allworth Financial LP raised its stake in 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 buying an additional 682 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Cameco in the fourth quarter valued at about $34,000. Finally, Sandy Spring Bank purchased a new stake in Cameco in the fourth quarter valued at about $43,000. Institutional investors 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.