Jefferies Financial Group Upgrades Cameco (NYSE:CCJ) to "Strong-Buy"

Key Points

• Jefferies Financial Group upgraded Cameco to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with 13 Buy, five Hold, and one Strong Buy rating and an average price target of $145.09.
• Cameco shares opened at $100.56, giving the company a market capitalization of approximately $43.8 billion; the stock has traded between $74.63 and $135.24 over the past year.
• The company’s latest quarterly results fell short of expectations, with earnings per share of $0.13 versus the $0.26 consensus estimate and revenue of $573.06 million, down 6.8% year over year.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was upgraded by Jefferies Financial Group to a "strong-buy" rating in a note issued to investors on Thursday, Zacks reports.

A number of other analysts have also weighed in on the stock. Wall Street Zen lowered shares of Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Scotiabank reiterated an "outperform" rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Bank of America lowered their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada boosted their target price on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Finally, Truist Financial upped their target price on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $145.09.

Cameco Price Performance

Shares of CCJ opened at $100.56 on Thursday. The firm has a market capitalization of $43.80 billion, a price-to-earnings ratio of 170.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. Cameco has a one year low of $74.63 and a one year high of $135.24. The stock's fifty day moving average is $95.33 and its 200-day moving average is $106.45.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. Equities analysts anticipate that Cameco will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

Large investors have recently made changes to their positions in the business. Sterling Capital Management LLC bought a new stake in shares of Cameco in the 1st quarter worth approximately $30,000. Brown Lisle Cummings Inc. boosted its holdings in Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after buying an additional 288 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in Cameco in the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its position in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock worth $28,000 after buying an additional 307 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock worth $30,000 after buying an additional 325 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

About Cameco

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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