Cameco (NYSE:CCJ) Raised to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) to a strong-buy rating in a report published on Tuesday, Zacks.com reports. National Bank Financial also issued estimates for Cameco’s FY2024 earnings at $0.75 EPS, FY2025 earnings at $1.22 EPS, FY2026 earnings at $1.35 EPS and FY2027 earnings at $1.62 EPS.

Several other research firms have also weighed in on CCJ. Glj Research restated a buy rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. The Goldman Sachs Group lifted their price target on Cameco from $56.00 to $62.00 and gave the stock a buy rating in a research report on Friday, June 7th. Scotiabank dropped their price target on Cameco from $81.00 to $80.00 and set an outperform rating on the stock in a research report on Monday, August 19th. Cantor Fitzgerald raised Cameco from a neutral rating to an overweight rating in a research report on Wednesday, July 31st. Finally, Bank of America lifted their price target on Cameco from $59.00 to $60.50 and gave the stock a buy rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $67.25.

Cameco Stock Down 2.9 %

CCJ opened at $36.98 on Tuesday. The business has a 50 day moving average price of $43.89 and a 200 day moving average price of $46.54. Cameco has a twelve month low of $35.18 and a twelve month high of $56.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The firm has a market cap of $16.09 billion, a P/E ratio of 94.82 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. Research analysts forecast that Cameco will post 1.06 EPS for the current year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Cameco by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Cameco by 2.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after acquiring an additional 288,400 shares in the last quarter. Capital World Investors raised its stake in Cameco by 1.6% during the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after acquiring an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Cameco by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after acquiring an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after acquiring an additional 265,196 shares in the last quarter. 70.21% of the stock is currently owned by 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.