Cameco Co. (NYSE:CCJ) Receives $70.03 Consensus Target Price from Brokerages

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have been given a consensus recommendation of “Buy” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $70.03.

Several research analysts have commented on the company. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a report on Wednesday, April 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Sanford C. Bernstein began coverage on shares of Cameco in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price objective for the company. Finally, Desjardins initiated coverage on shares of Cameco in a research report on Friday, April 4th. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dantai Capital Ltd raised its holdings in shares of Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after buying an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC bought a new stake in Cameco during the 4th quarter valued at $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco during the 4th quarter worth $445,000. Sprott Inc. grew its stake in shares of Cameco by 44.5% in the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after purchasing an additional 34,483 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Cameco during the fourth quarter valued at $930,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Up 1.1 %

Shares of NYSE CCJ opened at $41.28 on Friday. The stock has a market capitalization of $17.97 billion, a PE ratio of 147.43 and a beta of 1.04. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $43.36 and a 200-day moving average of $49.97. Cameco has a 52-week low of $35.00 and a 52-week high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, analysts anticipate that Cameco will post 1.27 EPS for the current 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.