Analysts Set Cameco Co. (NYSE:CCJ) Target Price at $66.56

Cameco Co. (NYSE:CCJ) (TSE:CCO) has earned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $66.56.

Several equities analysts have issued reports on the stock. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America raised their price objective on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Glj Research reiterated a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Scotiabank dropped their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Cameco by 150.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 42,692 shares of the basic materials company’s stock worth $1,840,000 after acquiring an additional 25,628 shares during the last quarter. Ossiam raised its holdings in shares of Cameco by 39.0% in the fourth quarter. Ossiam now owns 41,819 shares of the basic materials company’s stock worth $1,812,000 after acquiring an additional 11,728 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Cameco in the fourth quarter valued at $746,000. Nebula Research & Development LLC acquired a new stake in shares of Cameco during the fourth quarter valued at $912,000. Finally, Barometer Capital Management Inc. increased its position in Cameco by 103.8% during the 4th quarter. Barometer Capital Management Inc. now owns 65,830 shares of the basic materials company’s stock worth $2,837,000 after purchasing an additional 33,530 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Performance

NYSE CCJ opened at $51.35 on Wednesday. The firm has a market cap of $22.35 billion, a P/E ratio of 131.67 and a beta of 0.90. Cameco has a 52-week low of $35.43 and a 52-week high of $56.24. The business’s 50-day moving average price is $42.77 and its 200 day moving average price is $47.34. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share 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 company 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) earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts expect that Cameco will post 0.83 earnings per share for the current year.

Cameco Company Profile

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.