Cameco Corporation (NYSE:CCJ) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Cameco Corporation has received an average recommendation of "Buy" from 14 research firms, with 12 analysts rating it as a buy and 2 as a strong buy.
• The stock's average 12-month price target among brokerages is $83.32, reflecting positive analyst sentiment.
• Cameco reported a quarterly EPS of $0.51, beating expectations significantly, with revenue increasing by 46.7% compared to the previous year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO has earned a consensus recommendation of "Buy" from the fifteen research firms that are covering the stock, Marketbeat.com reports. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $89.5450.

CCJ has been the topic of a number of research reports. Wall Street Zen raised shares of Cameco from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. CLSA started coverage on shares of Cameco in a research report on Tuesday. They issued an "outperform" rating and a $102.00 price objective on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Royal Bank Of Canada lifted their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Glj Research reaffirmed a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Cameco during the 2nd quarter valued at approximately $341,736,000. Alliancebernstein L.P. lifted its stake in shares of Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after purchasing an additional 3,959,837 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after purchasing an additional 1,387,797 shares during the period. Finally, Temasek Holdings Private Ltd acquired a new position in shares of Cameco in the 1st quarter valued at $55,513,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Trading Down 2.3%

CCJ stock traded down $1.82 during trading on Tuesday, hitting $78.07. The company had a trading volume of 3,641,971 shares, compared to its average volume of 4,672,321. The firm has a market capitalization of $33.99 billion, a P/E ratio of 89.74 and a beta of 1.04. Cameco has a 52-week low of $35.00 and a 52-week high of $83.02. The company has a 50 day simple moving average of $76.11 and a 200-day simple moving average of $59.66. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm's revenue was up 46.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

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.