Cameco (NYSE:CCJ) Upgraded to "Buy" at President Capital

Key Points

• Cameco has been upgraded from a "neutral" rating to a "buy" rating by President Capital, indicating increased confidence in the company's stock.
• Royal Bank of Canada raised its target price for Cameco from $100.00 to $110.00, adding to a series of positive ratings from various analysts.
• Cameco reported earnings per share of $0.51 for the last quarter, surpassing analysts' expectations and reflecting a 46.7% increase compared to the previous year.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was upgraded by equities researchers at President Capital from a "neutral" rating to a "buy" rating in a research report issued on Monday,MarketScreener reports.

CCJ has been the subject of several other reports. Royal Bank Of Canada increased their target price on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. BMO Capital Markets reissued an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. National Bankshares reiterated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Finally, Glj Research reissued a "buy" rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $89.55.

Cameco Trading Up 0.8%

Shares of CCJ opened at $87.00 on Monday. 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 $87.15. The company has a market capitalization of $37.88 billion, a P/E ratio of 98.73 and a beta of 1.04. The firm's 50 day simple moving average is $77.53 and its 200 day simple moving average is $61.86.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) 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 quarterly revenue was up 46.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Cameco during the second quarter valued at approximately $341,736,000. Alliancebernstein L.P. raised its holdings 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 valued at $578,226,000 after purchasing an additional 3,959,837 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted 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 purchasing an additional 2,071,373 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Cameco by 215.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in Cameco during the first quarter valued at approximately $55,513,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

About Cameco

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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