Bank of America Lowers Cameco (NYSE:CCJ) Price Target to $140.00

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective decreased by equities research analysts at Bank of America from $143.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s target price indicates a potential upside of 45.74% from the company’s current price.

CCJ has been the topic of a number of other research reports. Barclays began coverage on Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada lifted their target price on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.11.

Cameco Price Performance

Shares of CCJ opened at $96.06 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco has a 1-year low of $68.96 and a 1-year high of $135.24. The stock has a market cap of $41.84 billion, a PE ratio of 88.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.02. The firm has a fifty day moving average price of $106.85 and a 200 day moving average price of $110.81.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter last year, the company posted $0.16 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cameco will post 1.21 EPS for the current year.

Institutional Trading of Cameco

A number of hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC purchased a new stake in shares of Cameco during the first quarter worth approximately $30,000. Nisa Investment Advisors LLC purchased a new position in Cameco in the 4th quarter valued at $25,000. Brown Lisle Cummings Inc. increased its stake in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after buying an additional 288 shares during the period. Founders Capital Management acquired a new position in Cameco in the 4th quarter valued at $27,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Cameco during the 4th quarter worth $28,000. 70.21% of the stock is 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.