Cameco (NYSE:CCJ) Stock Price Up 3.1% After Analyst Upgrade

Cameco Corporation (NYSE:CCJGet Free Report) (TSE:CCO) shares traded up 3.1% during trading on Monday after Royal Bank Of Canada raised their price target on the stock from $90.00 to $100.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cameco traded as high as $70.10 and last traded at $70.37. 1,403,895 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,411,614 shares. The stock had previously closed at $68.27.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group raised their price objective 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. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, June 18th. Stifel Nicolaus started coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Wall Street Zen raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $77.30.

View Our Latest Report on CCJ

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Manchester Capital Management LLC lifted 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 buying an additional 300 shares in the last quarter. Hurley Capital LLC acquired a new position in Cameco during the 4th quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco during the 4th quarter worth about $28,000. Dagco Inc. acquired a new position in Cameco during the 1st quarter worth about $28,000. Finally, SVB Wealth LLC acquired a new position in Cameco during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Trading Up 3.8%

The company’s 50-day moving average is $54.92 and its 200-day moving average is $50.00. The firm has a market cap of $31.51 billion, a price-to-earnings ratio of 180.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

Cameco (NYSE:CCJGet Free Report) (TSE:CCO) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

About Cameco

(Get Free Report)

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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