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

Cameco Co. (NYSE:CCJ) (TSE:CCO) – Equities researchers at Raymond James lowered their Q3 2024 EPS estimates for Cameco in a report issued on Wednesday, July 31st. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.24 per share for the quarter, down from their prior estimate of $0.32. The consensus estimate for Cameco’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Cameco’s FY2024 earnings at $0.83 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.43 EPS and FY2025 earnings at $1.48 EPS.

A number of other research firms also recently issued reports on CCJ. Bank of America raised their price objective on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group lifted their price target on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.70.

Cameco Stock Down 7.3 %

Shares of NYSE:CCJ opened at $38.03 on Friday. The firm has a market capitalization of $16.55 billion, a P/E ratio of 97.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 3.22. The stock has a 50 day moving average price of $50.28 and a 200-day moving average price of $47.62. Cameco has a 52-week low of $32.89 and a 52-week high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same quarter in the prior year, the company earned ($0.01) EPS. Cameco’s revenue was up 24.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Murphy Pohlad Asset Management LLC increased its holdings in Cameco by 0.3% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 75,720 shares of the basic materials company’s stock worth $3,280,000 after buying an additional 200 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Cameco by 26.0% in the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 221 shares during the period. LRI Investments LLC raised its holdings in shares of Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 234 shares during the last quarter. Meitav Investment House Ltd. lifted its position in Cameco by 2.8% during the fourth quarter. Meitav Investment House Ltd. now owns 8,897 shares of the basic materials company’s stock valued at $383,000 after purchasing an additional 240 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Cameco by 12.3% in the first quarter. Fifth Third Bancorp now owns 2,290 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 250 shares during the last quarter. Institutional investors 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.