Cameco (NYSE:CCJ) Stock Rating Upgraded by Wall Street Zen

Key Points

• Cameco's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, reflecting positive analyst sentiment towards the company.
• The company reported record quarterly revenue of $467.72 million, exceeding expectations, with earnings per share at $0.51.
• Current market consensus rates Cameco as a "Buy," with a target price averaging $89.55 set by various analysts.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

A number of other equities analysts have also recently commented on the company. CLSA started coverage on Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 target price for the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Cameco in a report on Saturday, September 27th. UBS Group set a $102.00 target price on Cameco in a report on Tuesday, September 9th. National Bankshares reissued an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Finally, Glj Research reissued a "buy" rating and set a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $89.55.

Cameco Price Performance

NYSE CCJ traded up $0.13 during trading hours on Friday, reaching $84.33. The company's stock had a trading volume of 3,527,663 shares, compared to its average volume of 4,886,769. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of 96.93 and a beta of 0.99. Cameco has a 1-year low of $35.00 and a 1-year high of $89.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company's 50-day moving average is $78.70 and its two-hundred day moving average is $64.22.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Management LLC purchased a new position in shares of Cameco during the first quarter worth $2,131,000. Northwest & Ethical Investments L.P. boosted its position in shares of Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock worth $1,750,000 after buying an additional 14,154 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in shares of Cameco by 41.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after buying an additional 11,879 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of Cameco by 74.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company's stock worth $2,017,000 after buying an additional 20,947 shares during the period. Finally, Nicholson Meyer Capital Management Inc. purchased a new position in shares of Cameco during the first quarter worth $350,000. 70.21% of the stock is currently owned by hedge funds and other 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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