Cameco (NYSE:CCJ) Price Target Lowered to $140.00 at Bank of America

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective decreased by Bank of America from $143.00 to $140.00 in a research note published on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the basic materials company’s stock.

Other analysts also recently issued reports about the company. Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. William Blair began coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Finally, Royal Bank Of Canada raised their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.11.

Cameco Trading Up 1.1%

Shares of Cameco stock opened at $95.78 on Thursday. Cameco has a 1 year low of $68.96 and a 1 year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The business has a 50 day moving average price of $107.21 and a 200 day moving average price of $110.91. The company has a market capitalization of $41.72 billion, a P/E ratio of 88.69, a P/E/G ratio of 1.74 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Sell-side analysts anticipate that Cameco will post 1.2 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. Contravisory Investment Management Inc. boosted its position in shares of Cameco by 2,229.3% in the second quarter. Contravisory Investment Management Inc. now owns 71,788 shares of the basic materials company’s stock worth $7,312,000 after acquiring an additional 68,706 shares during the last quarter. Vertrix Wealth Management LLC acquired a new position in Cameco during the second quarter worth approximately $567,000. Chemistry Wealth Management LLC increased its position in Cameco by 13.4% during the second quarter. Chemistry Wealth Management LLC now owns 3,402 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 402 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Cameco by 12.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 27,761 shares of the basic materials company’s stock worth $2,828,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Cameco by 4.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,227 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.