Cameco (NYSE:CCJ) Announces Quarterly Earnings Results

Cameco (NYSE:CCJ) (TSE:CCO) posted its earnings results on Thursday. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40), Briefing.com reports. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the business earned $0.24 earnings per share. Cameco’s quarterly revenue was up 25.4% on a year-over-year basis. Cameco updated its FY 2024 guidance to EPS.

Cameco Price Performance

NYSE CCJ opened at $52.54 on Friday. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of 122.19 and a beta of 0.89. Cameco has a 52-week low of $35.43 and a 52-week high of $58.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The business has a 50 day simple moving average of $48.27 and a 200 day simple moving average of $48.18.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date is Wednesday, November 27th. This represents a dividend yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is currently 18.60%.

Analysts Set New Price Targets

CCJ has been the topic of several analyst reports. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Glj Research reiterated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank reduced their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus target price of $66.56.

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.