Cameco’s (CCJ) Outperform Rating Reaffirmed at Royal Bank of Canada

Cameco (NYSE:CCJ) (TSE:CCO)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $90.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 126.53% from the company’s previous close.

Separately, StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $71.25.

Cameco Stock Performance

Shares of CCJ stock traded down $1.38 during trading hours on Tuesday, hitting $39.73. The company’s stock had a trading volume of 2,355,341 shares, compared to its average volume of 4,120,969. Cameco has a 12-month low of $35.43 and a 12-month high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $17.29 billion, a PE ratio of 141.77 and a beta of 0.94. The company has a 50 day moving average of $49.63 and a 200 day moving average of $49.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million for 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, sell-side analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of CCJ. Polar Asset Management Partners Inc. lifted its stake in shares of Cameco by 337.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 98,376 shares of the basic materials company’s stock worth $5,055,000 after acquiring an additional 75,876 shares during the period. Hall Capital Management Co. Inc. acquired a new position in Cameco during the 4th quarter worth approximately $204,000. Ameriflex Group Inc. acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $40,000. Jupiter Wealth Management LLC purchased a new stake in shares of Cameco during the 4th quarter worth $514,000. Finally, Formidable Asset Management LLC lifted its stake in shares of Cameco by 13.4% in the fourth quarter. Formidable Asset Management LLC now owns 18,756 shares of the basic materials company’s stock valued at $964,000 after purchasing an additional 2,215 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

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.