Cameco (NYSE:CCJ) Stock Price Expected to Rise, Glj Research Analyst Says

Cameco (NYSE:CCJ) (TSE:CCO) had its target price raised by Glj Research from $62.76 to $75.68 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Glj Research’s price objective suggests a potential upside of 81.29% from the company’s current price.

Other research analysts also recently issued reports about the company. Stifel Nicolaus assumed coverage on Cameco in a research note on Wednesday. They set a “buy” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Performance

CCJ stock opened at $41.75 on Wednesday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.17 billion, a P/E ratio of 149.09 and a beta of 1.04. Cameco has a 12-month low of $35.43 and a 12-month high of $62.55. The stock’s 50 day simple moving average is $48.01 and its 200 day simple moving average is $49.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, equities research analysts predict that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after buying an additional 1,811,876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cameco by 1.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock valued at $865,729,000 after buying an additional 190,337 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cameco by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after buying an additional 270,102 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after buying an additional 1,196,336 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after buying an additional 1,386,639 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

About Cameco

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.