Cameco (NYSE:CCJ) Price Target Raised to $60.50 at Bank of America

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective boosted by Bank of America from $59.00 to $60.50 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group increased their target price on Cameco from $56.00 to $62.00 and gave the company a buy rating in a research report on Friday, June 7th. StockNews.com downgraded Cameco from a hold rating to a sell rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $63.70.

Cameco Trading Down 4.9 %

Shares of NYSE:CCJ opened at $49.20 on Wednesday. Cameco has a 1 year low of $29.17 and a 1 year high of $56.24. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 126.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.69. The business’s 50 day moving average price is $51.41 and its 200-day moving average price is $47.03.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). Cameco had a net margin of 9.28% and a return on equity of 4.60%. The business had revenue of $470.29 million for the quarter. On average, equities research analysts forecast that Cameco will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hamilton Wealth LLC increased its stake in shares of Cameco by 76.3% in the 1st quarter. Hamilton Wealth LLC now owns 8,978 shares of the basic materials company’s stock worth $389,000 after acquiring an additional 3,886 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Cameco by 22.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 124,821 shares of the basic materials company’s stock worth $5,338,000 after acquiring an additional 22,820 shares during the last quarter. Beck Bode LLC increased its stake in shares of Cameco by 11.2% in the 1st quarter. Beck Bode LLC now owns 46,681 shares of the basic materials company’s stock worth $2,022,000 after acquiring an additional 4,689 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Cameco in the 1st quarter worth $26,000. Finally, Strategic Wealth Partners Ltd. increased its stake in shares of Cameco by 12.9% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 180,655 shares of the basic materials company’s stock worth $7,826,000 after acquiring an additional 20,709 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

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.