Canadian Imperial Bank of Commerce Raises Cameco (NYSE:CCJ) Price Target to $202.00

Cameco (NYSE:CCJ) (TSE:CCO) had its price target upped by Canadian Imperial Bank of Commerce to $202.00 in a research note issued on Monday,MarketScreener reports. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 83.17% from the stock’s previous close.

Several other research analysts have also weighed in on CCJ. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. 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. UBS Group started coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Trading Up 0.5%

Shares of NYSE CCJ traded up $0.60 during trading on Monday, reaching $110.28. The company had a trading volume of 667,085 shares, compared to its average volume of 4,393,250. The company’s fifty day moving average price is $114.36 and its 200-day moving average price is $96.52. Cameco has a 12 month low of $35.00 and a 12 month high of $135.24. The stock has a market cap of $48.03 billion, a P/E ratio of 113.69 and a beta of 0.98. 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 results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, research analysts expect that Cameco will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

Institutional investors have recently added to or reduced their stakes in the stock. Abbington Investment Group bought a new stake in shares of Cameco during the 3rd quarter valued at about $6,506,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cameco by 79.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock worth $20,964,000 after purchasing an additional 110,629 shares during the last quarter. Nwam LLC raised its stake in Cameco by 11.7% in the second quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after purchasing an additional 8,519 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in Cameco by 165.1% during the second quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock valued at $12,593,000 after purchasing an additional 105,523 shares during the last quarter. Finally, NWF Advisory Services Inc. bought a new stake in Cameco during the third quarter valued at approximately $1,996,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.