Truist Financial Issues Pessimistic Forecast for Cameco (NYSE:CCJ) Stock Price

Key Points

• Truist Financial lowered Cameco’s price target from $130 to $125 while maintaining a “buy” rating, implying 52.45% upside from the stock’s $81.99 price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $148.10, though some firms recently issued hold, sell, or strong-sell opinions.
• Cameco’s latest quarterly results fell short of expectations: EPS was $0.13 versus a $0.26 estimate, while revenue declined 6.8% year over year to $573.06 million.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO had its target price reduced by analysts at Truist Financial from $130.00 to $125.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Truist Financial's target price would suggest a potential upside of 52.45% from the company's current price.

CCJ has been the topic of several other research reports. Barclays cut their price objective on Cameco from $97.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday. Jefferies Financial Group began coverage on Cameco in a research report on Thursday, September 3rd. They issued a "buy" rating and a $138.00 target price for the company. Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. Wall Street Zen downgraded Cameco from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Finally, Zacks Research lowered Cameco from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $148.10.

Cameco Price Performance

CCJ opened at $81.99 on Thursday. The company has a 50-day moving average of $93.06 and a 200-day moving average of $100.85. The company has a market capitalization of $35.71 billion, a P/E ratio of 138.97, a PEG ratio of 1.64 and a beta of 1.17. Cameco has a 1-year low of $77.70 and a 1-year high of $135.24. 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 (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Equities analysts expect that Cameco will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Crescent Grove Advisors LLC bought a new position in shares of Cameco in the third quarter valued at approximately $386,000. Foster Victor Wealth Advisors LLC increased its stake in shares of Cameco by 19.5% during the third quarter. Foster Victor Wealth Advisors LLC now owns 130,903 shares of the basic materials company's stock valued at $10,564,000 after acquiring an additional 21,370 shares during the period. Skylands Capital LLC bought a new stake in Cameco during the third quarter worth approximately $61,000. Carnegie Investment Counsel raised its holdings in Cameco by 12.5% during the third quarter. Carnegie Investment Counsel now owns 3,439 shares of the basic materials company's stock worth $298,000 after purchasing an additional 382 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its holdings in Cameco by 41.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,329 shares of the basic materials company's stock worth $288,000 after purchasing an additional 981 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About Cameco

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco's principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.

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