Cameco (NYSE:CCJ) Coverage Initiated at Desjardins

Stock analysts at Desjardins assumed coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating on the basic materials company’s stock.

Several other research firms have also weighed in on CCJ. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Sanford C. Bernstein started coverage on shares of Cameco in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 target price on the stock. Stifel Nicolaus began coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Finally, Glj Research raised their price target on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average price target of $70.03.

Cameco Price Performance

NYSE CCJ opened at $37.80 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04. Cameco has a 12-month low of $35.43 and a 12-month high of $62.55. The company has a 50 day moving average price of $45.02 and a two-hundred day moving average price of $50.32.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. As a group, equities analysts predict that Cameco will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several large investors have recently added to or reduced their stakes in CCJ. Old West Investment Management LLC increased its position in shares of Cameco by 10.4% during the third quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock valued at $13,472,000 after purchasing an additional 26,584 shares during the period. Captrust Financial Advisors increased its holdings in Cameco by 69.2% in the 3rd quarter. Captrust Financial Advisors now owns 48,690 shares of the basic materials company’s stock valued at $2,325,000 after buying an additional 19,921 shares during the period. Flow Traders U.S. LLC acquired a new position in shares of Cameco in the 3rd quarter valued at $337,000. Hilltop Holdings Inc. acquired a new position in shares of Cameco in the 3rd quarter valued at $205,000. Finally, HighTower Advisors LLC boosted its position in shares of Cameco by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 617,538 shares of the basic materials company’s stock valued at $29,519,000 after acquiring an additional 35,180 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.