Analysts Set Cameco Co. (NYSE:CCJ) Target Price at $58.25

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 research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $58.25.

Several research firms recently issued reports on CCJ. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. The Goldman Sachs Group raised their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th.

Institutional Trading of Cameco

Hedge funds have recently modified their holdings of the business. Bornite Capital Management LP bought a new stake in Cameco during the fourth quarter worth about $6,590,000. Tidal Investments LLC grew its stake in shares of Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares during the last quarter. Eaton Financial Holdings Company LLC bought a new position in Cameco during the 4th quarter valued at approximately $1,327,000. LRI Investments LLC purchased a new position in Cameco during the first quarter valued at $30,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Cameco in the first quarter worth $295,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $44.39 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. Cameco has a fifty-two week low of $35.18 and a fifty-two week high of $56.24. The business has a 50 day moving average price of $41.76 and a 200-day moving average price of $46.47. The firm has a market cap of $19.32 billion, a PE ratio of 113.82 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. During the same period in the previous year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 24.1% on a year-over-year basis. Equities research analysts predict that Cameco will post 0.96 earnings per share for the current year.

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.