Cameco (NYSE:CCJ) Stock Rating Upgraded by Truist Financial

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

CCJ has been the subject of several other research reports. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Barclays started coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Royal Bank Of Canada upped their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Finally, TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.52.

Cameco Price Performance

Shares of CCJ opened at $91.68 on Monday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $105.73 and its two-hundred day moving average is $110.91. Cameco has a twelve month low of $68.96 and a twelve month high of $135.24. The firm has a market capitalization of $39.93 billion, a PE ratio of 84.89, a P/E/G ratio of 1.59 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Research analysts anticipate that Cameco will post 1.2 earnings per share for the current year.

Institutional Trading of Cameco

Several large investors have recently modified their holdings of CCJ. Bison Wealth LLC increased its position in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after acquiring an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund purchased a new stake in Cameco during the 2nd quarter worth about $14,252,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco News Roundup

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Some analysts remain constructive on Cameco, pointing to strong uranium production, diversification from Westinghouse and Fuel Services, and a high price target that implies meaningful upside. Cameco Q2 Preview: Earnings Could Restart The Nuclear Rally
• Neutral Sentiment: Coverage comparing Cameco with Energy Fuels argued that CCJ is a weaker uranium opportunity today, though the view was based more on relative fundamentals than a fresh company-specific event. UUUU vs. CCJ: Which Uranium Stock Offers the Better Opportunity Today?
• Neutral Sentiment: A Seeking Alpha article also argued that Wall Street may be paying too much for Cameco’s long-term nuclear growth story, adding to the debate around valuation rather than changing the underlying business outlook. Cameco: Wall Street Is Paying Too Much For A Nuclear Dream
• Negative Sentiment: Investor concern increased after Cameco’s temporary Cigar Lake mining suspension, which raised questions about near-term production reliability and helped push the stock lower. Cameco Falls as Investors Weigh Mine Disruption and Softer Uranium Sentiment
• Negative Sentiment: Unusual trading in CCJ put options suggests traders were positioning for more downside, reinforcing the cautious tone around the 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.