Cameco Co. (NYSE:CCJ) Receives Consensus Rating of “Buy” from Brokerages

by · The Markets Daily

Shares of Cameco Co. (NYSE:CCJ – Get Free Report) (TSE:CCO) have earned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.56.

Several brokerages have issued reports on CCJ. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Glj Research reiterated a “buy” rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Bank of America boosted their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank decreased their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

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Institutional Investors Weigh In On Cameco

A number of large investors have recently made changes to their positions in the company. Bornite Capital Management LP bought a new stake in Cameco during the fourth quarter valued at approximately $6,590,000. Tidal Investments LLC lifted its position in Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 2,683 shares in the last quarter. LRI Investments LLC bought a new stake in Cameco during the first quarter valued at about $30,000. Susquehanna Fundamental Investments LLC purchased a new stake in Cameco in the first quarter worth about $295,000. Finally, Councilmark Asset Management LLC purchased a new position in shares of Cameco during the 1st quarter valued at about $1,760,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $51.72 on Wednesday. Cameco has a 52 week low of $35.43 and a 52 week high of $56.24. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $22.51 billion, a P/E ratio of 132.62 and a beta of 0.90. The business’s 50 day moving average price is $43.34 and its 200-day moving average price is $47.46.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The company had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Equities research analysts anticipate that Cameco will post 0.83 earnings per share for the current fiscal year.

Cameco Company Profile

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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.

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