Cameco Corporation (NYSE:CCJ) Receives Average Rating of “Moderate Buy” from Analysts

Cameco Corporation (NYSE:CCJ) (TSE:CCO) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $148.92.

A number of equities research analysts have recently weighed in on CCJ shares. Barclays assumed coverage on shares of Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target on the stock. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada raised their target price on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a research note on Monday, March 9th.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bison Wealth LLC increased its stake in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund bought a new position in Cameco during the 2nd quarter worth approximately $14,252,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Shares of CCJ stock opened at $96.36 on Monday. The business has a fifty day simple moving average of $109.26 and a 200 day simple moving average of $110.68. The company has a market cap of $41.97 billion, a P/E ratio of 89.22, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (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%.The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, sell-side analysts forecast that Cameco will post 1.21 EPS for the current fiscal year.

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.