Brokers Set Expectations for Cameco Co.’s Q3 2024 Earnings (TSE:CCO)

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Equities research analysts at Raymond James dropped their Q3 2024 EPS estimates for shares of Cameco in a report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.34. Raymond James also issued estimates for Cameco’s Q4 2024 earnings at $0.51 EPS, FY2024 earnings at $1.09 EPS, Q2 2025 earnings at $0.51 EPS and Q4 2025 earnings at $0.59 EPS.

A number of other research analysts have also commented on CCO. Scotiabank decreased their price objective on Cameco from C$81.00 to C$80.00 in a report on Monday, August 19th. National Bankshares set a C$74.00 price target on shares of Cameco and gave the company an “outperform” rating in a research note on Wednesday, September 4th. CIBC lifted their price objective on shares of Cameco from C$74.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. TD Securities increased their target price on shares of Cameco from C$79.00 to C$80.00 in a research report on Monday, July 22nd. Finally, Canaccord Genuity Group raised their target price on shares of Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$77.50.

Cameco Price Performance

TSE:CCO opened at C$64.75 on Wednesday. Cameco has a one year low of C$48.45 and a one year high of C$76.66. The company has a market cap of C$28.18 billion, a P/E ratio of 109.69, a P/E/G ratio of 2.22 and a beta of 0.88. The firm’s fifty day moving average price is C$56.94 and its two-hundred day moving average price is C$63.59. The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its earnings results on Wednesday, July 31st. The company reported C$0.14 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.25). Cameco had a return on equity of 4.23% and a net margin of 9.70%. The business had revenue of C$598.00 million for the quarter.

Insider Transactions at Cameco

In other Cameco news, Senior Officer Cory John-Paul Kos acquired 500 shares of Cameco stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of C$56.23 per share, with a total value of C$28,115.00. In related news, Senior Officer Cory John-Paul Kos acquired 500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of C$56.23 per share, for a total transaction of C$28,115.00. Also, Director Catherine Gignac bought 5,500 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of C$52.99 per share, for a total transaction of C$291,417.50. 0.15% of the stock is owned by insiders.

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.