Scotiabank Has Pessimistic View of Cameco FY2027 Earnings

Cameco Corporation (NYSE:CCJ) (TSE:CCO) – Investment analysts at Scotiabank dropped their FY2027 earnings per share estimates for shares of Cameco in a research report issued to clients and investors on Thursday, February 19th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will post earnings of $1.48 per share for the year, down from their prior forecast of $1.53. Scotiabank currently has a “Outperform” rating on the stock. The consensus estimate for Cameco’s current full-year earnings is $1.27 per share.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year.

A number of other analysts have also issued reports on CCJ. UBS Group started coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Glj Research reaffirmed a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and an average target price of $143.03.

Cameco Trading Up 2.1%

Shares of Cameco stock opened at $118.99 on Friday. The stock has a market capitalization of $51.82 billion, a P/E ratio of 122.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.85 and a current ratio of 2.47. The stock’s 50-day simple moving average is $108.19 and its 200 day simple moving average is $92.95. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24.

Institutional Trading of Cameco

A number of hedge funds have recently made changes to their positions in CCJ. Norges Bank purchased a new stake in Cameco in the fourth quarter worth about $443,265,000. TD Asset Management Inc grew its stake in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after acquiring an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Marshall Wace LLP increased its holdings in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after acquiring an additional 1,644,061 shares during the period. 70.21% of the stock is owned by institutional investors.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.