Cameco Co. (NYSE:CCJ) Receives Consensus Recommendation of “Buy” from Analysts

Cameco Co. (NYSE:CCJ) (TSE:CCO) has received an average rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $66.56.

Several research analysts recently commented on the stock. Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Bank of America lifted their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Glj Research reiterated a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st.

Cameco Stock Up 0.3 %

Cameco stock opened at $51.59 on Wednesday. The company has a market capitalization of $22.45 billion, a P/E ratio of 132.28 and a beta of 0.90. The firm’s fifty day simple moving average is $42.07 and its 200-day simple moving average is $47.10. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. Cameco has a 1-year low of $35.43 and a 1-year high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Sell-side analysts forecast that Cameco will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Vanguard Group Inc. boosted its position in shares of Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cameco by 2.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after acquiring an additional 288,400 shares in the last quarter. Capital World Investors boosted its position in shares of Cameco by 1.6% during the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after acquiring an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after acquiring an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after acquiring an additional 265,196 shares in the last quarter. Institutional investors 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.