Cameco (NYSE:CCJ) Raised to “Buy” at Wall Street Zen

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

A number of other research analysts also recently commented on CCJ. Royal Bank Of Canada raised their target price on shares of Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. TD Securities reissued a “buy” rating on shares of Cameco in a research report on Tuesday, August 5th. UBS Group set a $102.00 target price on shares of Cameco in a research report on Tuesday, September 9th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Friday, October 10th. Finally, President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $89.55.

Cameco Trading Down 0.8%

Shares of CCJ opened at $85.88 on Friday. Cameco has a 1-year low of $35.00 and a 1-year high of $97.79. The company has a 50-day moving average of $81.37 and a 200 day moving average of $68.04. The firm has a market capitalization of $37.39 billion, a price-to-earnings ratio of 98.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm’s revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. On average, research analysts expect that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CCJ. MetLife Investment Management LLC purchased a new stake in Cameco during the 1st quarter worth approximately $2,131,000. TD Asset Management Inc grew its position in Cameco by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock worth $158,141,000 after purchasing an additional 77,081 shares during the last quarter. Northwest & Ethical Investments L.P. grew its position in Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock worth $1,750,000 after purchasing an additional 14,154 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in Cameco by 41.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock worth $1,663,000 after purchasing an additional 11,879 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in Cameco by 74.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock worth $2,017,000 after purchasing an additional 20,947 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.