Analysts Set Cameco Corporation (NYSE:CCJ) Target Price at $121.68

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $121.6771.

A number of equities analysts recently issued reports on CCJ shares. UBS Group initiated coverage on shares of Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target for the company. Royal Bank Of Canada decreased their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th.

Cameco Trading Up 1.6%

NYSE:CCJ opened at $110.68 on Monday. The firm has a market capitalization of $48.19 billion, a P/E ratio of 128.69 and a beta of 1.01. The company has a fifty day moving average of $92.36 and a 200 day moving average of $85.12. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. Cameco has a 52 week low of $35.00 and a 52 week high of $114.45.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. On average, research analysts predict that Cameco will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were paid a $0.24 dividend. This represents a yield of 27.0%. The ex-dividend date was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio is currently 19.77%.

Institutional Investors Weigh In On Cameco

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Cameco during the second quarter valued at approximately $341,736,000. TD Asset Management Inc grew its holdings in Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Van ECK Associates Corp grew its position in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. Finally, Mizuho Markets Cayman LP acquired a new position in shares of Cameco in the 3rd quarter valued at $128,370,000. 70.21% of the stock is owned by institutional investors.

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.