Cameco Co. (NYSE:CCJ) Receives Average Recommendation of “Buy” from Brokerages

Cameco Co. (NYSE:CCJ) (TSE:CCO) has been assigned an average recommendation of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $45.70.

Several research firms recently issued reports on CCJ. Bank of America raised their price objective on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. The Goldman Sachs Group upped their target price on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday.

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after buying an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cameco by 2.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after buying an additional 288,400 shares in the last quarter. Capital World Investors grew its stake in shares of Cameco by 1.6% in the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after buying an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cameco by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after buying an additional 202,157 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Cameco by 25.6% in the 4th quarter. National Bank of Canada FI now owns 4,180,221 shares of the basic materials company’s stock worth $175,714,000 after purchasing an additional 850,704 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Cameco stock opened at $41.01 on Friday. Cameco has a 12-month low of $31.58 and a 12-month high of $56.24. The stock has a market cap of $17.85 billion, a P/E ratio of 105.15 and a beta of 0.91. The company has a 50-day moving average price of $50.58 and a 200 day moving average price of $47.71. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.23). Cameco had a return on equity of 4.60% and a net margin of 9.28%. The firm had revenue of $470.29 million for the quarter. Sell-side analysts anticipate that Cameco will post 1.11 earnings per share for the current year.

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.