Cameco Corporation (CCJ) Price Target Increased to $29.00 by Analysts at Bank of America Corporation
Cameco Corporation (NYSE:CCJ) (TSE:CCO) had its target price raised by investment analysts at Bank of America Corporation from $27.00 to $29.00 in a note issued to investors on Wednesday. The brokerage presently has an “underperform” rating on the basic materials company’s stock. Bank of America Corporation’s price target points to a potential upside of 228.80% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. BidaskClub cut Cameco Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Cameco Corporation in a research report on Tuesday, August 15th. TheStreet upgraded Cameco Corporation from a “d+” rating to a “c” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Cameco Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Credit Suisse Group lowered Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Cameco Corporation currently has a consensus rating of “Hold” and a consensus target price of $15.72.
Shares of Cameco Corporation (NYSE CCJ) traded up 3.85% on Wednesday, hitting $9.16. The company had a trading volume of 3,342,127 shares. Cameco Corporation has a 12-month low of $7.41 and a 12-month high of $13.36. The firm has a 50 day moving average of $9.91 and a 200-day moving average of $10.00. The firm’s market capitalization is $3.63 billion.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. Cameco Corporation had a negative net margin of 0.75% and a positive return on equity of 2.59%. The business had revenue of $470.00 million during the quarter, compared to the consensus estimate of $383.81 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts predict that Cameco Corporation will post $0.14 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Cameco Corporation by 2.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,814,780 shares of the basic materials company’s stock worth $54,132,000 after purchasing an additional 98,900 shares during the period. Public Sector Pension investment Board raised its stake in Cameco Corporation by 22.0% in the second quarter. Public Sector Pension investment Board now owns 775,171 shares of the basic materials company’s stock valued at $7,049,000 after buying an additional 139,800 shares during the period. Tocqueville Asset Management L.P. raised its stake in Cameco Corporation by 0.4% in the second quarter. Tocqueville Asset Management L.P. now owns 1,385,724 shares of the basic materials company’s stock valued at $15,201,000 after buying an additional 5,075 shares during the period. OppenheimerFunds Inc. raised its stake in Cameco Corporation by 20.0% in the fourth quarter. OppenheimerFunds Inc. now owns 3,545,235 shares of the basic materials company’s stock valued at $43,713,000 after buying an additional 590,695 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Cameco Corporation by 21.4% in the fourth quarter. CIBC Asset Management Inc now owns 239,653 shares of the basic materials company’s stock valued at $2,956,000 after buying an additional 42,171 shares during the period. Institutional investors and hedge funds own 56.53% of the company’s stock.
About Cameco Corporation
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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