Cameco (NYSE:CCJ) Earns “Buy” Rating from Glj Research

Glj Research restated their buy rating on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $63.73 price objective on the basic materials company’s stock.

CCJ has been the topic of several other research reports. Cantor Fitzgerald upgraded shares of Cameco from a neutral rating to an overweight rating in a report on Wednesday, July 31st. The Goldman Sachs Group lifted 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, Bank of America increased their price target on Cameco from $59.00 to $60.50 and gave the company a buy rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $63.71.

Cameco Price Performance

Cameco stock opened at $40.25 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 3.22. The company has a market cap of $17.52 billion, a price-to-earnings ratio of 103.21 and a beta of 0.92. Cameco has a 1 year low of $33.63 and a 1 year high of $56.24. The firm has a 50 day moving average price of $47.25 and a 200 day moving average price of $47.07.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The company had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. Sell-side analysts predict that Cameco will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in shares of Cameco by 235.3% during the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. LRI Investments LLC purchased a new stake in Cameco during the 1st quarter worth approximately $26,000. Principal Securities Inc. acquired a new position in shares of Cameco in the 4th quarter valued at approximately $29,000. Lindbrook Capital LLC boosted its stake in shares of Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after buying an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after buying an additional 600 shares in 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.