Cameco (NYSE:CCJ) Announces Earnings Results

Cameco (NYSE:CCJ) (TSE:CCO) released its quarterly earnings results on Wednesday. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14), Briefing.com reports. The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. Cameco updated its FY 2024 guidance to EPS.

Cameco Stock Performance

Shares of CCJ traded down $2.99 on Friday, reaching $38.03. 9,842,671 shares of the stock traded hands, compared to its average volume of 3,677,909. The stock’s 50-day moving average price is $50.28 and its 200-day moving average price is $47.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 0.69. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 97.51 and a beta of 0.92. Cameco has a 12 month low of $32.89 and a 12 month high of $56.24.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CCJ shares. The Goldman Sachs Group increased their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Finally, Bank of America upped their target price on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

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.