Cameco Co. (NYSE:CCJ) Receives $58.25 Consensus Target Price from Brokerages

Cameco Co. (NYSE:CCJ) (TSE:CCO) has been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $58.25.

CCJ has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Glj Research reiterated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Scotiabank lowered their price objective 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. Bank of America lifted their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd.

Cameco Trading Up 8.1 %

Shares of NYSE CCJ opened at $44.39 on Friday. The company has a market cap of $19.32 billion, a PE ratio of 113.82 and a beta of 0.90. 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 firm’s 50 day moving average price is $41.76 and its 200-day moving average price is $46.47. Cameco has a 52-week low of $35.18 and a 52-week high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter in the prior year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities research analysts expect that Cameco will post 0.96 EPS for the current fiscal year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after acquiring an additional 200,871 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cameco by 2.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after purchasing an additional 288,400 shares during the period. Capital World Investors increased its position in Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after buying an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after buying an additional 202,157 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.