Jefferies Financial Group Upgrades Cameco (NYSE:CCJ) to Strong-Buy

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by research analysts at Jefferies Financial Group to a “strong-buy” rating in a report issued on Thursday, Zacks reports.

Several other research analysts also recently weighed in on CCJ. Truist Financial lifted their target price 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. 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 research report on Tuesday, August 4th. Bank of America decreased their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada boosted their target price on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.09.

Cameco Trading Up 4.3%

NYSE:CCJ opened at $100.56 on Thursday. The stock has a fifty day simple moving average of $95.33 and a 200 day simple moving average of $106.45. The firm has a market capitalization of $43.80 billion, a price-to-earnings ratio of 170.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. Cameco has a 1-year low of $74.63 and a 1-year high of $135.24. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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 return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Cameco’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

A number of large investors have recently made changes to their positions in CCJ. Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the period. Sterling Capital Management LLC acquired a new position in Cameco in the 1st quarter valued at approximately $30,000. Sunbelt Securities Inc. increased its stake in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after buying an additional 325 shares during the period. Finally, Brown Lisle Cummings Inc. lifted its position in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.