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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cameco, with 13 buy ratings, five holds and one strong buy. The average 12-month price target is $146.18.
• Cameco’s latest quarterly results exceeded expectations, with EPS of $0.34 versus a $0.29 consensus and revenue of $607.5 million, up 7.1% year over year.
• The stock opened at $88.19, below its 50-day and 200-day moving averages, while institutional investors own 70.21% of the company.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO have been given an average rating of "Moderate Buy" by the nineteen research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $146.1833.

A number of equities research analysts have commented on the company. Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Scotiabank reiterated an "outperform" rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. William Blair began coverage on Cameco in a research note on Monday, April 20th. They set an "outperform" rating on the stock. Royal Bank Of Canada boosted their price target 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 initiated coverage on Cameco in a research note on Monday, July 13th. They issued a "buy" rating and a $129.00 price target for the company.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new stake in Cameco in the 4th quarter valued at $25,000. Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 307 shares during the last quarter. Sterling Capital Management LLC purchased a new position in shares of Cameco during the first quarter valued at about $30,000. Finally, Sunbelt Securities Inc. grew its position in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

Shares of NYSE CCJ opened at $88.19 on Friday. The firm has a fifty day moving average price of $99.82 and a 200-day moving average price of $110.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a market cap of $38.41 billion, a PE ratio of 81.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Cameco has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to analysts' expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. Equities analysts anticipate that Cameco will post 1.34 earnings per share for the current fiscal year.

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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