Analysts Set Cameco Co. (NYSE:CCJ) Price Target at $66.56

Cameco Co. (NYSE:CCJ) (TSE:CCO) has received an average rating of “Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.56.

Several analysts have weighed in on the company. Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th.

Cameco Stock Performance

Shares of CCJ opened at $59.45 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a market capitalization of $25.87 billion, a price-to-earnings ratio of 312.89 and a beta of 0.89. Cameco has a 52-week low of $35.43 and a 52-week high of $60.98. The stock’s 50-day simple moving average is $53.36 and its 200 day simple moving average is $48.94.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. Cameco’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Research analysts forecast that Cameco will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is presently 57.89%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the 2nd quarter worth $73,125,000. CIBC Asset Management Inc grew its stake in shares of Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. M&G PLC purchased a new position in Cameco during the 3rd quarter valued at about $66,227,000. Segra Capital Management LLC bought a new position in Cameco during the 3rd quarter valued at approximately $53,013,000. Finally, Fred Alger Management LLC lifted its holdings in Cameco by 99.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after buying an additional 839,077 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.