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

Key Points

• Cameco was upgraded from a "hold" to a "buy" rating by Wall Street Zen, contributing to a positive outlook from several analysts who maintain an average rating of "Buy" with a consensus target price of $82.65.
• The company's recent quarterly earnings outperformed expectations, reporting $0.51 EPS, compared to the consensus estimate of $0.29 EPS, and its revenue increased by 46.7% year-over-year.
• Cameco's stock has shown significant growth, with a 1-year high of $80.32 and a substantial 80% gain over the last three months, attracting increased institutional investment.

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

A number of other equities research analysts also recently commented on the stock. Glj Research restated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Scotiabank reissued an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Royal Bank Of Canada lifted their price target on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Ten equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cameco currently has an average rating of "Buy" and a consensus target price of $82.65.

Cameco Stock Down 2.6%

Shares of NYSE:CCJ opened at $72.97 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. Cameco has a 1-year low of $35.00 and a 1-year high of $80.32. The firm has a fifty day moving average price of $70.40 and a 200 day moving average price of $54.35. The stock has a market cap of $31.77 billion, a P/E ratio of 83.87 and a beta of 1.03.

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 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.34%. The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the prior year, the firm earned $0.14 EPS. Cameco's quarterly revenue was up 46.7% on a year-over-year basis. Sell-side analysts predict that Cameco will post 1.27 EPS for the current year.

Institutional Trading of Cameco

Large investors have recently bought and sold shares of the company. Jennison Associates LLC raised its stake in shares of Cameco by 1.4% during the 2nd quarter. Jennison Associates LLC now owns 616,236 shares of the basic materials company's stock worth $45,743,000 after buying an additional 8,285 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Cameco during the 2nd quarter valued at about $1,510,000. Transcend Capital Advisors LLC acquired a new position in Cameco during the second quarter worth about $201,000. Pasadena Private Wealth LLC acquired a new position in Cameco during the second quarter worth about $236,000. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Cameco by 4.3% in the second quarter. Ashton Thomas Private Wealth LLC now owns 12,951 shares of the basic materials company's stock valued at $961,000 after purchasing an additional 528 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

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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