Cameco (NYSE:CCJ) Upgraded at Wall Street Zen

Key Points

• Cameco was upgraded from a "hold" rating to a "buy" rating by analysts at Wall Street Zen, reflecting positive sentiment on the stock.
• Cameco's current consensus rating is "Buy" with an average target price of $83.32, supported by several other equities analysts also maintaining high ratings.
• The company's recent earnings report showed an earnings per share (EPS) of $0.51, significantly beating analysts' estimates by $0.22, and a revenue increase of 46.7% year-over-year.

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

A number of other equities analysts have also weighed in on the stock. Glj Research reiterated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Royal Bank Of Canada lifted their price objective on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Finally, UBS Group reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. Based on data from MarketBeat.com, Cameco currently has a consensus rating of "Buy" and an average target price of $83.32.

Cameco Stock Performance

Shares of Cameco stock opened at $75.85 on Friday. The firm's fifty day simple moving average is $75.64 and its 200-day simple moving average is $58.82. The stock has a market capitalization of $33.02 billion, a price-to-earnings ratio of 87.18 and a beta of 1.04. Cameco has a 12 month low of $35.00 and a 12 month high of $83.02. 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 (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same period in the previous year, the company posted $0.14 EPS. The company's quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Cameco by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company's stock worth $1,304,504,000 after purchasing an additional 481,171 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cameco by 1.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock worth $865,729,000 after buying an additional 190,337 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after buying an additional 3,959,837 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock worth $524,988,000 after buying an additional 2,071,373 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Cameco in the 2nd quarter worth about $341,736,000. 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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