Brokers Offer Predictions for Cameco Co.'s Q3 2024 Earnings (NYSE:CCJ)

Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO - Research analysts at Raymond James raised their Q3 2024 earnings estimates for shares of Cameco in a note issued to investors on Tuesday, April 30th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will earn $0.32 per share for the quarter, up from their prior estimate of $0.31. The consensus estimate for Cameco's current full-year earnings is $1.53 per share. Raymond James also issued estimates for Cameco's FY2024 earnings at $0.93 EPS.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.06). Cameco had a net margin of 9.28% and a return on equity of 4.60%. The firm had revenue of $620.00 million for the quarter.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Cameco from a "hold" rating to a "sell" rating in a research report on Thursday, April 4th. The Goldman Sachs Group assumed coverage on shares of Cameco in a report on Monday, April 1st. They set a "buy" rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cameco has a consensus rating of "Moderate Buy" and a consensus price target of $62.75.

Cameco Price Performance

CCJ stock traded down $0.01 during trading hours on Friday, hitting $48.41. 2,223,534 shares of the stock traded hands, compared to its average volume of 5,061,128. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $45.07 and a 200 day simple moving average of $44.31. Cameco has a one year low of $26.15 and a one year high of $52.64. The company has a market cap of $21.02 billion, a P/E ratio of 124.13 and a beta of 0.92.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Venturi Wealth Management LLC increased its position in shares of Cameco by 235.3% in the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company's stock worth $25,000 after acquiring an additional 400 shares in the last quarter. Principal Securities Inc. acquired a new position in Cameco in the 4th quarter worth approximately $29,000. Allworth Financial LP grew its position in Cameco by 1,049.2% during the 3rd quarter. Allworth Financial LP now owns 747 shares of the basic materials company's stock worth $30,000 after purchasing an additional 682 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Cameco during the 4th quarter valued at $34,000. Finally, Sandy Spring Bank purchased a new stake in shares of Cameco in the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.