Cameco Corp. [NYSE: CCJ] traded at a low on Wednesday, posting a -5.70 loss after which it closed the day’ session at $39.57. The company report on February 8, 2024 at 6:40 AM that Cameco Announces 2023 Results; Strategically Positioned to Increase Tier-One Production as Security of Supply Contracting Cycle Advances; Maintaining Disciplined Financial Management and Growth; Improving Westinghouse Outlook.
Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the fourth quarter and year ended December 31, 2023, in accordance with International Financial Reporting Standards (IFRS).
“Our 2023 financial performance benefitted from higher sales volumes and realized prices in our uranium and fuel services segments. Our net earnings, adjusted net earnings, and cash from operations all more than doubled compared to 2022, with adjusted EBITDA up 93%. In 2024, we expect strong financial performance as we begin to realize the benefits from our investment in Westinghouse. We plan to continue to transition to our tier-one cost structure and make the capital and other expenditures we believe are necessary to position the company for continued sustainable growth. Growth that will be sought in the same manner as we approach all aspects of our business; strategic, deliberate, disciplined, and with a focus on generating full-cycle value,” said Tim Gitzel, Cameco’s president and CEO.
The results of the trading session contributed to over 9176787 shares changing hands. Over the past one week, the price volatility of Cameco Corp. stands at 6.09% while the volatility over the past one month is 4.10%.
The market cap for CCJ stock reached $17.18 billion, with 434.18 million shares outstanding and 433.02 million shares in the current float. Compared to the average trading volume of 5.48M shares, CCJ reached a trading volume of 9176787 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cameco Corp. [CCJ]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCJ shares is $54.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCJ stock is a recommendation set at 1.38. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cantor Fitzgerald have made an estimate for Cameco Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 19, 2023. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on November 13, 2023, representing the official price target for Cameco Corp. stock.
The Average True Range (ATR) for Cameco Corp. is set at 1.84, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 8.97. The Price to Book ratio for the last quarter was 3.72, with the Price to Cash per share for the same quarter was set at 0.99. Price to Free Cash Flow for CCJ in the course of the last twelve months was 47.40 with Quick ratio for the last quarter at 0.97.
How has CCJ stock performed recently?
Cameco Corp. [CCJ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.95. With this latest performance, CCJ shares dropped by -9.33% in over the last four-week period, additionally plugging by 3.75% over the last 6 months – not to mention a rise of 55.97% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCJ stock in for the last two-week period is set at 40.21, with the RSI for the last a single of trading hit 38.92, and the three-weeks RSI is set at 41.58 for Cameco Corp. [CCJ]. The present Moving Average for the last 50 days of trading for this stock 44.23, while it was recorded at 41.52 for the last single week of trading, and 39.03 for the last 200 days.
Cameco Corp. [CCJ]: Deeper insight into the fundamentals
Cameco Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 1.55.
Earnings analysis for Cameco Corp. [CCJ]
With the latest financial reports released by the company, Cameco Corp. posted 0.2/share EPS, while the average EPS was predicted by analysts to be reported at 0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CCJ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cameco Corp. go to 48.09%.
Insider trade positions for Cameco Corp. [CCJ]
The top three institutional holders of CCJ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CCJ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CCJ stock with ownership which is approximately 5.8325%.
