Cameco (NYSE:CCJ) Price Target Raised to $100.00

Cameco (NYSE:CCJ) (TSE:CCO) had its target price lifted by investment analysts at Royal Bank Of Canada from $90.00 to $100.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 46.35% from the company’s current price.

CCJ has been the subject of several other research reports. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Finally, UBS Group restated a “buy” rating on shares of Cameco in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $77.30.

Cameco Price Performance

Shares of Cameco stock opened at $68.33 on Friday. Cameco has a twelve month low of $35.00 and a twelve month high of $71.31. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $53.72 and a two-hundred day simple moving average of $49.86. The stock has a market capitalization of $29.75 billion, a price-to-earnings ratio of 170.83 and a beta of 0.97.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The business had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same quarter last year, the firm earned $0.13 EPS. Cameco’s revenue for the quarter was up 24.4% compared to the same quarter last year. Analysts forecast that Cameco will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently added to or reduced their stakes in CCJ. Manchester Capital Management LLC increased its position in Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Hurley Capital LLC acquired a new position in Cameco during the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco during the 4th quarter worth approximately $28,000. Dagco Inc. acquired a new position in Cameco during the 1st quarter worth approximately $28,000. Finally, SVB Wealth LLC bought a new stake in Cameco during the 1st quarter worth approximately $29,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.