Cameco Upgraded by Bank of America Corp. to Buy (CCJ)
Cameco (NYSE:CCJ) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 price objective on the stock, up from their previous price objective of $22.00. Bank of America Corp.’s price target would suggest a potential upside of 44.30% from the company’s current price.
A number of other firms have also recently commented on CCJ. Analysts at Scotiabank initiated coverage on shares of Cameco in a research note to investors on Thursday, January 9th. They set an “outperform” rating on the stock. Analysts at FBR Capital Markets initiated coverage on shares of Cameco in a research note to investors on Wednesday, December 11th. They set a “market perform” rating and a $24.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.08.
Shares of Cameco (NYSE:CCJ) traded up 3.54% on Tuesday, hitting $20.79. 3,172,183 shares of the company’s stock traded hands. Cameco has a 52-week low of $17.27 and a 52-week high of $22.87. The stock has a 50-day moving average of $20.52 and a 200-day moving average of $19.76. The company has a market cap of $8.222 billion and a P/E ratio of 25.58.
Cameco (NYSE:CCJ) last released its earnings data on Wednesday, October 30th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.36. The company had revenue of $597.00 million for the quarter, compared to the consensus estimate of $596.98 million. During the same quarter last year, the company posted $0.13 earnings per share. Cameco’s revenue was up 101.7% compared to the same quarter last year. On average, analysts predict that Cameco will post $1.28 earnings per share for the current fiscal year.
The company also recently announced a dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.094 per share. The ex-dividend date is Friday, December 27th.
Cameco Corporation (NYSE:CCJ) is engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries.
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