Cameco (NYSE:CCJ) Price Target Raised to $202.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Cameco to $202.00, implying about an 83.17% upside from the prior close.
• Cameco beat quarterly expectations with EPS $0.36 vs. $0.29 and revenue of $874.6M vs. $782.1M, while analysts hold a consensus rating of "Moderate Buy" and a consensus price target of $150.40.
• Shares traded at $110.28 mid-day, giving Cameco a market cap of $48.03B and a PE ratio of 113.69, with a 12‑month range of $35.00 to $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO had its price objective lifted by equities researchers at Canadian Imperial Bank of Commerce to $202.00 in a research report issued on Monday,MarketScreener reports. Canadian Imperial Bank of Commerce's price target points to a potential upside of 83.17% from the company's previous close.

Other analysts have also issued reports about the company. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Weiss Ratings raised shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Glj Research restated a "buy" rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Finally, UBS Group assumed coverage on shares of Cameco in a research report on Monday, November 10th. They set a "neutral" rating and a $140.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $150.40.

Cameco Price Performance

NYSE:CCJ traded up $0.60 during mid-day trading on Monday, reaching $110.28. The stock had a trading volume of 667,085 shares, compared to its average volume of 4,393,250. Cameco has a 12 month low of $35.00 and a 12 month high of $135.24. The stock has a market capitalization of $48.03 billion, a PE ratio of 113.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The stock has a 50-day simple moving average of $114.36 and a two-hundred day simple moving average of $96.52.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same quarter last year, the business posted $0.36 EPS. The company's revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Cameco will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

A number of hedge funds have recently made changes to their positions in the company. SHP Wealth Management bought a new position in Cameco in the 4th quarter valued at approximately $353,000. Tobam grew its holdings in Cameco by 1,126.9% during the 4th quarter. Tobam now owns 5,521 shares of the basic materials company's stock worth $505,000 after acquiring an additional 5,071 shares during the last quarter. Groupama Asset Managment grew its holdings in Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock worth $176,000 after acquiring an additional 108 shares during the last quarter. Walser Wealth Management Company A Ltd Liability Co acquired a new position in Cameco in the 4th quarter valued at approximately $330,000. Finally, Copos Capital S.a r.l. acquired a new position in Cameco in the 4th quarter valued at approximately $35,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

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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