The Goldman Sachs Group Issues Positive Forecast for Cameco (NYSE:CCJ) Stock Price

Cameco (NYSE:CCJ - Free Report) TSE: CCO had its price target raised by The Goldman Sachs Group from $65.00 to $78.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company's stock.

Several other analysts have also recently commented on the stock. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Stifel Nicolaus started coverage on Cameco in a research note on Wednesday, March 12th. They issued a "buy" rating for the company. Sanford C. Bernstein set a $70.00 price target on Cameco and gave the stock an "outperform" rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Glj Research raised their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cameco currently has a consensus rating of "Buy" and a consensus price target of $75.63.

Cameco Price Performance

CCJ stock traded up $0.45 on Wednesday, reaching $66.78. The company had a trading volume of 2,135,347 shares, compared to its average volume of 4,329,730. The company's fifty day moving average is $49.54 and its 200 day moving average is $49.45. The company has a market cap of $29.07 billion, a P/E ratio of 238.50 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a 1 year low of $35.00 and a 1 year high of $68.12.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm's revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. On average, research analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after acquiring an additional 1,811,876 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cameco by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock valued at $703,295,000 after purchasing an additional 300,088 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cameco by 1.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after purchasing an additional 190,337 shares in the last quarter. Alliancebernstein L.P. increased its stake in Cameco by 39.3% during 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 during the period. Finally, AGF Management Ltd. lifted its holdings in Cameco by 19.0% in the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after buying an additional 644,413 shares in the last quarter. Institutional investors and hedge funds 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.