Cameco Corporation (NYSE:CCJ) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Cameco Corporation (NYSE:CCJ) (TSE:CCO) has earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $148.68.

CCJ has been the subject of a number of research reports. Bank of America lowered their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Zacks Research lowered shares of Cameco from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Jefferies Financial Group started coverage on shares of Cameco in a report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target for the company. Barclays reduced their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Finally, Truist Financial lifted their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC acquired a new stake in Cameco during the first quarter worth approximately $30,000. Brown Lisle Cummings Inc. lifted its position in Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares during the period. CX Institutional lifted its position in Cameco by 2,181.2% during the third quarter. CX Institutional now owns 365 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 349 shares during the period. Copos Capital S.a r.l. acquired a new stake in Cameco during the fourth quarter worth about $35,000. Finally, Western Wealth Management LLC acquired a new stake in Cameco during the first quarter worth about $39,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Shares of CCJ stock opened at $86.20 on Wednesday. The stock has a market cap of $37.54 billion, a PE ratio of 146.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. The stock has a 50-day moving average of $94.89 and a 200-day moving average of $101.94. 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.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts expect that Cameco will post 1.07 earnings per share for the current year.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world’s major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company’s operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.