Cameco Corporation (NYSE:CCJ) Stock Has Consensus Target Price of $148.68

Cameco Corporation (NYSE:CCJ) (TSE:CCO) has earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $148.68.

CCJ has been the topic of a number of research reports. Barclays dropped their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Truist Financial raised their price target on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price target on shares of Cameco in a research report on Monday, June 15th. Finally, Jefferies Financial Group assumed coverage on shares of Cameco in a report on Thursday, September 3rd. They set a “buy” rating and a $138.00 price objective on the stock.

Cameco Stock Performance

Shares of CCJ opened at $88.06 on Friday. The company has a market capitalization of $38.35 billion, a PE ratio of 149.26, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco has a one year low of $77.70 and a one year high of $135.24. The company’s fifty day moving average price is $95.10 and its 200 day moving average price is $103.94.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, analysts expect that Cameco will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Capital World Investors increased its holdings in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after buying an additional 41,430 shares during the period. Bank of America Corp DE bought a new stake in Cameco in the second quarter valued at about $735,498,000. Van ECK Associates Corp raised its position in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after purchasing an additional 849,188 shares in the last quarter. Norges Bank acquired a new position in Cameco in the fourth quarter worth about $443,265,000. Finally, Geode Capital Management LLC lifted its stake in Cameco by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 4,164,700 shares of the basic materials company’s stock worth $385,945,000 after purchasing an additional 289,004 shares during the period. 70.21% of the stock is currently owned by institutional investors.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.