Cameco (TSE:CCO) PT Raised to C$69.00 at Raymond James

Cameco (TSE:CCO) (NYSE:CCJ) had its target price hoisted by Raymond James from C$66.00 to C$69.00 in a report published on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Cameco’s Q4 2023 earnings at $0.41 EPS, FY2023 earnings at $0.99 EPS, Q1 2024 earnings at $0.50 EPS, Q2 2024 earnings at $0.60 EPS, Q3 2024 earnings at $0.64 EPS, Q4 2024 earnings at $0.64 EPS and FY2024 earnings at $2.38 EPS.

CCO has been the subject of a number of other reports. Canaccord Genuity Group lifted their target price on Cameco from C$60.00 to C$65.00 and gave the company a buy rating in a research report on Wednesday. Eight Capital raised their target price on shares of Cameco from C$60.00 to C$65.00 and gave the company a buy rating in a research report on Wednesday. TD Securities raised their target price on shares of Cameco from C$55.00 to C$70.00 and gave the company an action list buy rating in a research report on Tuesday, October 3rd. Scotiabank raised their target price on shares of Cameco from C$54.00 to C$70.00 and gave the company an outperform rating in a research report on Friday, September 29th. Finally, Royal Bank of Canada increased their target price on Cameco from C$49.50 to C$56.00 in a research report on Tuesday, September 5th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and a consensus price target of C$61.63.

Cameco Price Performance

Shares of CCO stock opened at C$57.37 on Wednesday. The company has a market capitalization of C$24.86 billion, a P/E ratio of 260.77, a P/E/G ratio of 2.22 and a beta of 0.92. The company’s 50-day simple moving average is C$52.41 and its two-hundred day simple moving average is C$45.00. Cameco has a one year low of C$28.98 and a one year high of C$59.40. The company has a debt-to-equity ratio of 18.86, a current ratio of 3.64 and a quick ratio of 3.74.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported C($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.23). The firm had revenue of C$482.00 million during the quarter. Cameco had a return on equity of 1.79% and a net margin of 4.70%. As a group, equities analysts anticipate that Cameco will post 2.6772062 EPS for the current year.

Cameco Announces Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.12 dividend. This represents a dividend yield of 0.21%. The ex-dividend date is Wednesday, November 29th. Cameco’s dividend payout ratio is currently 54.55%.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.