Cameco Corporation (NYSE:CCJ) Given Consensus Recommendation of "Buy" by Analysts

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO has earned a consensus rating of "Buy" from the fourteen brokerages that are currently covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $82.6540.

A number of brokerages have weighed in on CCJ. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, August 5th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Glj Research reiterated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th.

Cameco Stock Performance

Shares of NYSE CCJ opened at $75.59 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 86.88 and a beta of 1.06. The stock's fifty day simple moving average is $73.44 and its 200 day simple moving average is $55.82. Cameco has a 52-week low of $35.00 and a 52-week high of $80.32.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its 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 business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%. Cameco's revenue was up 46.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC lifted its holdings in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Dagco Inc. purchased a new stake in Cameco in the first quarter worth $28,000. SVB Wealth LLC purchased a new stake in Cameco in the first quarter worth $29,000. Trust Co. of Vermont grew its position in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 350 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in shares of Cameco in the second quarter valued at $30,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.

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