Cameco (NYSE:CCJ) Price Target Raised to $202.00

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective boosted by Canadian Imperial Bank of Commerce to $202.00 in a research note issued to investors on Monday,MarketScreener reports.

Several other equities analysts have also recently issued reports on CCJ. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada boosted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and an average price target of $150.40.

Cameco Trading Down 3.9%

Shares of Cameco stock opened at $115.37 on Monday. Cameco has a 12-month low of $35.00 and a 12-month high of $135.24. The stock has a market capitalization of $50.25 billion, a P/E ratio of 118.94 and a beta of 0.98. The company has a 50-day simple moving average of $115.89 and a 200 day simple moving average of $97.28. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC increased its position in Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after acquiring an additional 85 shares during the period. Legacy Bridge LLC boosted its holdings in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares during the period. Groupama Asset Managment grew its position in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares in the last quarter. S.A. Mason LLC grew its position in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 112 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.