Cameco Co. (NYSE:CCJ) Given Average Recommendation of “Buy” by Analysts

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have received a consensus rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $57.87.

A number of research analysts have issued reports on the company. Bank of America upped their price objective on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their price objective on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Glj Research reiterated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th.

Cameco Stock Performance

Shares of CCJ stock opened at $42.32 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 0.69. The firm has a 50-day moving average of $45.98 and a 200-day moving average of $46.78. Cameco has a one year low of $35.18 and a one year high of $56.24. The company has a market cap of $18.42 billion, a P/E ratio of 108.51 and a beta of 0.92.

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

Institutional Investors Weigh In On Cameco

Institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its stake in shares of Cameco by 235.3% during the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 400 shares during the period. LRI Investments LLC bought a new stake in shares of Cameco during the first quarter valued at about $26,000. Principal Securities Inc. purchased a new stake in shares of Cameco in the fourth quarter worth about $29,000. Lindbrook Capital LLC boosted its position in shares of Cameco by 26.0% in the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 221 shares during the period. Finally, Larson Financial Group LLC grew its stake in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after acquiring 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.