Cameco Co. (NYSE:CCJ) Receives $66.56 Average Target Price from Brokerages

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have earned an average rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $66.56.

Several brokerages have commented on CCJ. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research restated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th.

Cameco Price Performance

Shares of NYSE CCJ opened at $59.45 on Thursday. Cameco has a 1 year low of $35.43 and a 1 year high of $60.98. The stock has a market capitalization of $25.87 billion, a P/E ratio of 312.89 and a beta of 0.89. The company’s 50-day moving average is $53.36 and its 200 day moving average is $48.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, sell-side analysts expect that Cameco will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $0.118 dividend. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 57.89%.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently modified their holdings of CCJ. Synovus Financial Corp lifted its holdings in shares of Cameco by 12.2% during the third quarter. Synovus Financial Corp now owns 128,137 shares of the basic materials company’s stock valued at $6,120,000 after purchasing an additional 13,901 shares in the last quarter. Tidal Investments LLC lifted its stake in Cameco by 9.2% during the 3rd quarter. Tidal Investments LLC now owns 25,396 shares of the basic materials company’s stock valued at $1,213,000 after acquiring an additional 2,142 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cameco during the 3rd quarter valued at about $38,000. Sanctuary Advisors LLC grew its stake in shares of Cameco by 97.6% in the third quarter. Sanctuary Advisors LLC now owns 13,969 shares of the basic materials company’s stock worth $667,000 after acquiring an additional 6,901 shares during the period. Finally, Toronto Dominion Bank raised its holdings in shares of Cameco by 172.3% during the third quarter. Toronto Dominion Bank now owns 817,028 shares of the basic materials company’s stock valued at $39,021,000 after purchasing an additional 517,035 shares during the last quarter. Institutional investors 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.