Cameco (NYSE:CCJ) Raised to "Buy" at Wall Street Zen

Key Points

• Cameco has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increasing confidence in the stock.
• Royal Bank of Canada raised its price target for Cameco shares from $100.00 to $110.00, reflecting optimism about the company's future performance.
• Currently, Cameco has an average rating of "Buy" from analysts, with a significant majority issuing either Buy or Outperform ratings.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Other research analysts have also issued reports about the stock. TD Securities reissued a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Royal Bank Of Canada raised their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Cameco in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $89.55.

Cameco Price Performance

Shares of CCJ stock opened at $86.75 on Friday. The firm has a market cap of $37.77 billion, a P/E ratio of 99.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco has a 1-year low of $35.00 and a 1-year high of $97.79. The firm has a fifty day moving average of $81.21 and a two-hundred day moving average of $67.52.

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 for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the company. Armstrong Advisory Group Inc. lifted its position in Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 182 shares during the last quarter. Trust Co. of Vermont lifted its position in Cameco by 1,029.4% in the 2nd 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 during the last quarter. Hilltop National Bank bought a new stake in Cameco in the 2nd quarter valued at about $30,000. Atticus Wealth Management LLC bought a new stake in Cameco in the 2nd quarter valued at about $34,000. Finally, VSM Wealth Advisory LLC acquired a new position in Cameco during the 2nd quarter valued at about $35,000. 70.21% of the stock is currently owned by institutional investors.

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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