Cameco Corporation (NYSE:CCJ) Given Consensus Rating of “Moderate Buy” by Brokerages

Cameco Corporation (NYSE:CCJ) (TSE:CCO) has been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $145.60.

CCJ has been the topic of several recent research reports. Royal Bank Of Canada raised their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Truist Financial started coverage on Cameco in a report on Monday, July 13th. They issued a “buy” rating and a $129.00 price objective for the company. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, William Blair started coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating on the stock.

Cameco Trading Down 0.5%

Shares of Cameco stock opened at $93.79 on Friday. The firm has a 50-day moving average of $98.24 and a 200-day moving average of $109.37. The stock has a market cap of $40.85 billion, a PE ratio of 158.97, a PEG ratio of 1.52 and a beta of 1.05. Cameco has a 52-week low of $68.96 and a 52-week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.06.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.Cameco’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, sell-side analysts forecast that Cameco will post 1.31 EPS for the current year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cameco in the fourth quarter valued at approximately $443,265,000. Marshall Wace LLP grew its holdings in Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Cameco during the 2nd quarter worth approximately $163,449,000. Northwestern Mutual Wealth Management Co. increased its position in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after acquiring an additional 1,104,378 shares during the period. Finally, Man Group plc raised its stake in shares of Cameco by 126.3% during the third quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock valued at $142,455,000 after acquiring an additional 948,068 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.