Desjardins Forecasts Cameco's FY2025 Earnings (NYSE:CCJ)

Key Points

• Desjardins has reduced its FY2025 earnings per share estimate for Cameco to $1.05, down from a previous estimate of $1.12, reflecting a bearish outlook.
• Several analysts, including Wall Street Zen and Goldman Sachs, have revised their ratings on Cameco, with Goldman Sachs raising its price target from $65 to $78 while maintaining a "buy" rating.
• Cameco recently reported a significant year-over-year revenue increase of 46.7%, despite falling short of analysts' estimates for quarterly revenue expectations.

Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO - Desjardins lowered their FY2025 earnings per share estimates for Cameco in a research report issued on Wednesday, October 1st. Desjardins analyst B. Adams now forecasts that the basic materials company will post earnings of $1.05 per share for the year, down from their previous estimate of $1.12. The consensus estimate for Cameco's current full-year earnings is $1.27 per share.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Cameco from a "buy" rating to a "hold" rating in a report on Monday, September 15th. The Goldman Sachs Group increased their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Glj Research reissued a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. Finally, Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $89.55.

Cameco Trading Up 0.8%

Shares of Cameco stock opened at $84.15 on Friday. Cameco has a twelve month low of $35.00 and a twelve month high of $89.13. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $78.61 and a 200-day moving average price of $63.94. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 96.73 and a beta of 0.99.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC bought a new position in Cameco during the 1st quarter worth about $2,131,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock valued at $1,750,000 after purchasing an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Cameco by 41.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 11,879 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in Cameco by 74.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company's stock valued at $2,017,000 after buying an additional 20,947 shares during the period. Finally, Nicholson Meyer Capital Management Inc. bought a new position in Cameco in the first quarter worth approximately $350,000. Institutional investors own 70.21% 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.

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