Cameco (NYSE:CCJ) Coverage Initiated at CLSA

Key Points

• Cameco (NYSE:CCJ) received an outperform rating from CLSA with a target price of $102.00, indicating a potential upside of 31.80% from its last close.
• The company reported $0.51 EPS for the last quarter, significantly exceeding analyst expectations, with revenue increasing by 46.7% compared to the same quarter last year.
• Overall, the stock has garnered positive analyst sentiment, with two ratings of Strong Buy and thirteen Buy ratings, leading to an average price target of $87.05.

CLSA began coverage on shares of Cameco (NYSE:CCJ - Free Report) TSE: CCO in a research report released on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $102.00 price target on the basic materials company's stock.

A number of other research firms have also recently weighed in on CCJ. Glj Research restated a "buy" rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Tuesday, September 2nd. Wall Street Zen upgraded Cameco from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Finally, TD Securities restated a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $89.55.

Cameco Stock Down 2.3%

Shares of Cameco stock traded down $1.82 on Tuesday, reaching $78.07. 3,641,971 shares of the company were exchanged, compared to its average volume of 3,576,569. Cameco has a one year low of $35.00 and a one year high of $83.02. The company has a market capitalization of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $76.21 and a 200 day moving average of $59.90.

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

Institutional Trading of Cameco

Large investors have recently modified their holdings of the stock. MetLife Investment Management LLC acquired a new stake in Cameco in the first quarter valued at about $2,131,000. Vanguard Capital Wealth Advisors acquired a new stake in Cameco in the fourth quarter valued at about $839,000. Northwest & Ethical Investments L.P. boosted its stake in Cameco by 50.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock valued at $1,750,000 after buying an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Cameco by 41.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 11,879 shares in the last quarter. Finally, Nicholson Meyer Capital Management Inc. acquired a new stake in Cameco in the first quarter valued at about $350,000. 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.