Raymond James Weighs in on Cameco Co.’s Q2 2024 Earnings (TSE:CCO)

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Stock analysts at Raymond James lifted their Q2 2024 earnings per share estimates for Cameco in a research note issued to investors on Tuesday, April 30th. Raymond James analyst B. Macarthur now expects that the company will earn $0.32 per share for the quarter, up from their prior forecast of $0.31. The consensus estimate for Cameco’s current full-year earnings is $1.58 per share. Raymond James also issued estimates for Cameco’s Q4 2024 earnings at $0.55 EPS.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings data on Thursday, February 8th. The company reported C$0.21 EPS for the quarter, missing the consensus estimate of C$0.28 by C($0.07). The company had revenue of C$844.00 million during the quarter. Cameco had a return on equity of 6.05% and a net margin of 13.94%.

A number of other research analysts also recently weighed in on CCO. CIBC upped their price objective on shares of Cameco from C$72.00 to C$74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Bank of America upped their price target on Cameco from C$76.00 to C$80.00 in a report on Tuesday, April 9th. Scotiabank raised their price objective on Cameco from C$70.00 to C$71.00 in a report on Friday, February 9th. Eight Capital upped their target price on Cameco from C$70.00 to C$80.00 and gave the stock a “buy” rating in a research note on Monday, January 15th. Finally, TD Securities decreased their target price on Cameco from C$82.00 to C$79.00 and set an “action list buy” rating on the stock in a research report on Monday, February 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cameco presently has a consensus rating of “Buy” and an average price target of C$73.33.

Cameco Stock Performance

Shares of TSE CCO opened at C$64.56 on Thursday. The company has a market capitalization of C$28.03 billion, a PE ratio of 77.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.94. The company has a debt-to-equity ratio of 32.27, a quick ratio of 3.74 and a current ratio of 1.55. The company’s fifty day moving average price is C$60.89 and its 200 day moving average price is C$59.95. Cameco has a 1 year low of C$35.65 and a 1 year high of C$72.37.

Insider Activity

In related news, Senior Officer Jonathan Huntington sold 12,333 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of C$54.77, for a total transaction of C$675,478.41. In related news, Senior Officer Jonathan Huntington sold 12,333 shares of Cameco stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of C$54.77, for a total transaction of C$675,478.41. Also, Senior Officer Tim Scott Gitzel sold 21,546 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of C$66.85, for a total value of C$1,440,350.10. Insiders sold 98,694 shares of company stock worth $6,095,228 over the last three months. Insiders own 0.15% 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.