Desjardins Issues Pessimistic Outlook for Cameco Earnings

Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO - Investment analysts at Desjardins decreased their FY2027 earnings estimates for shares of Cameco in a research note issued to investors on Monday, June 16th. Desjardins analyst B. Adams now anticipates that the basic materials company will post earnings per share of $1.54 for the year, down from their previous forecast of $1.63. Desjardins currently has a "Buy" rating on the stock. The consensus estimate for Cameco's current full-year earnings is $1.27 per share.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business's quarterly revenue was up 24.4% compared to the same quarter last year.

A number of other equities analysts have also commented on the company. Stifel Canada raised Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. UBS Group reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cameco currently has an average rating of "Buy" and an average target price of $75.63.

Cameco Stock Performance

Shares of CCJ stock opened at $69.33 on Wednesday. Cameco has a 12 month low of $35.00 and a 12 month high of $71.31. The stock has a market capitalization of $30.18 billion, a P/E ratio of 173.34 and a beta of 0.97. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. The firm's 50 day moving average is $51.96 and its 200 day moving average is $49.65.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after purchasing an additional 3,959,837 shares during the last quarter. Norges Bank purchased a new position in shares of Cameco in the fourth quarter worth $188,595,000. FMR LLC raised its holdings in Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after acquiring an additional 1,387,797 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Cameco in the first quarter valued at about $55,513,000. 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.

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