Cameco Co. (NYSE:CCJ) Receives $70.53 Average Target Price from Analysts

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $70.53.

A number of research firms recently issued reports on CCJ. Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Glj Research lifted their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group began coverage on Cameco in a research report on Tuesday, May 20th. They issued a “buy” rating and a $65.00 target price on the stock. Desjardins began coverage on Cameco in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On Cameco

Institutional investors have recently bought and sold shares of the business. Sierra Ocean LLC acquired a new position in Cameco during the fourth quarter worth approximately $25,000. Hurley Capital LLC acquired a new position in shares of Cameco in the fourth quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Cameco in the fourth quarter valued at approximately $28,000. Manchester Capital Management LLC grew its position in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Cameco in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of Cameco stock opened at $60.04 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock’s 50-day moving average is $47.65 and its 200-day moving average is $49.30. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 214.41 and a beta of 0.97. Cameco has a one year low of $35.00 and a one year high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million during 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%. Cameco’s revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS. Equities analysts predict that Cameco will post 1.27 earnings per share for the current fiscal year.

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.