Cameco FY2024 EPS Forecast Lifted by National Bank Financial

Cameco Co. (TSE:CCO) (NYSE:CCJ) – Research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of Cameco in a research report issued on Monday, January 27th. National Bank Financial analyst M. Sidibe now forecasts that the company will post earnings of $0.73 per share for the year, up from their previous forecast of $0.69. National Bank Financial also issued estimates for Cameco’s FY2026 earnings at $1.75 EPS.

Other analysts have also issued reports about the company. Royal Bank of Canada boosted their price target on Cameco from C$75.00 to C$90.00 in a report on Thursday, November 21st. BMO Capital Markets upped their price target on Cameco from C$78.00 to C$84.00 in a research report on Friday, November 8th. Scotiabank lifted their price objective on shares of Cameco from C$80.00 to C$86.00 in a report on Tuesday, November 19th. Raymond James increased their target price on shares of Cameco from C$81.00 to C$88.00 in a report on Friday, November 22nd. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$84.30.

Cameco Trading Up 2.5 %

CCO opened at C$69.97 on Wednesday. The firm’s fifty day simple moving average is C$77.74 and its 200 day simple moving average is C$68.77. The stock has a market capitalization of C$30.45 billion, a P/E ratio of 118.59, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 25.39. Cameco has a 12 month low of C$48.71 and a 12 month high of C$88.18.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings results on Thursday, November 7th. The company reported C($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.23 by C($0.24). Cameco had a net margin of 9.70% and a return on equity of 4.23%. During the same quarter in the prior year, the business posted $0.32 earnings per share.

Insider Activity at Cameco

In other Cameco news, Senior Officer Brian Arthur Reilly sold 14,062 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of C$79.98, for a total value of C$1,124,678.76. Also, Senior Officer Lisa Lorene Aitken sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$75.19, for a total transaction of C$150,380.00. In the last ninety days, insiders sold 80,962 shares of company stock worth $6,800,456. Insiders own 0.15% of the company’s stock.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $0.16 dividend. This represents a dividend yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio is presently 20.34%.

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.