Cameco Corporation (NYSE:CCJ) Receives $77.30 Consensus PT from Brokerages

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO have been given an average rating of "Buy" by the thirteen brokerages that are currently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $80.65.

Several brokerages have commented on CCJ. 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. Desjardins began coverage on Cameco in a report on Friday, April 4th. They set a "buy" rating for the company. Stifel Canada upgraded Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. The Goldman Sachs Group increased their price target on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. lifted its holdings in shares of Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after acquiring an additional 3,959,837 shares during the last quarter. Norges Bank bought a new position in shares of Cameco during the 4th quarter valued at about $188,595,000. FMR LLC raised its holdings in shares of Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after buying an additional 1,811,876 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in 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 worth $83,636,000 after buying an additional 1,387,797 shares during the last quarter. Finally, Temasek Holdings Private Ltd bought a new stake in Cameco in the 1st quarter worth approximately $55,513,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Down 1.6%

CCJ stock traded down $1.22 during mid-day trading on Thursday, reaching $73.25. 8,005,182 shares of the company traded hands, compared to its average volume of 4,486,563. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The firm's 50 day moving average price is $56.19 and its 200 day moving average price is $50.27. The stock has a market cap of $31.89 billion, a price-to-earnings ratio of 183.12 and a beta of 0.97. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $76.34.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million during the quarter, compared to analysts' expectations of $890.07 million. During the same quarter last year, the business posted $0.13 EPS. The company's quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts predict that Cameco will post 1.27 EPS for the current fiscal year.

About Cameco

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.