Cameco (TSE:CCO) Issues Quarterly Earnings Results

Cameco (TSE:CCO) (NYSE:CCJ) issued its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 EPS for the quarter, FiscalAI reports. The company had revenue of C$845.37 million for the quarter. Cameco had a return on equity of 9.47% and a net margin of 18.39%.

Cameco Trading Down 5.3%

CCO stock traded down C$7.68 during mid-day trading on Thursday, reaching C$136.88. The company had a trading volume of 1,411,656 shares, compared to its average volume of 1,011,725. The company has a debt-to-equity ratio of 14.11, a current ratio of 3.08 and a quick ratio of 3.74. The firm has a 50 day moving average of C$152.63 and a 200 day moving average of C$152.57. The company has a market capitalization of C$59.62 billion, a PE ratio of 91.87, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Cameco has a 12 month low of C$94.96 and a 12 month high of C$182.72.

Insiders Place Their Bets

In other news, insider Alexandre Aubin sold 300 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total transaction of C$44,559.00. Following the sale, the insider owned 20 shares in the company, valued at approximately C$2,970.60. The trade was a 93.75% decrease in their ownership of the stock. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CCO has been the topic of a number of recent analyst reports. Barclays set a C$149.00 price target on Cameco and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. William Blair raised Cameco to a “strong-buy” rating in a report on Monday, April 20th. National Bank Financial boosted their price objective on Cameco from C$175.00 to C$180.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Desjardins lifted their price objective on Cameco from C$185.00 to C$190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$175.43.

About Cameco

Cameco is one of the world’s largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.