Cameco (NYSE:CCJ) Coverage Initiated by Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $65.00 price target on the basic materials company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 27.05% from the stock’s previous close.

CCJ has been the subject of a number of other reports. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Stifel Nicolaus assumed coverage on Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Stifel Canada raised Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Desjardins assumed coverage on Cameco in a research note on Friday, April 4th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and a consensus price target of $70.53.

Cameco Price Performance

Shares of NYSE CCJ opened at $51.16 on Tuesday. Cameco has a twelve month low of $35.00 and a twelve month high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 182.71 and a beta of 0.89. The business has a 50 day simple moving average of $43.90 and a 200-day simple moving average of $48.81.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Cameco’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, equities research analysts expect that Cameco will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of CCJ. Park Avenue Securities LLC lifted its holdings in shares of Cameco by 12.0% during the fourth quarter. Park Avenue Securities LLC now owns 5,573 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 598 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 267 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Cameco by 22.3% during the fourth quarter. Ballentine Partners LLC now owns 6,141 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 1,118 shares during the last quarter. Roberts Wealth Advisors LLC purchased a new stake in shares of Cameco during the fourth quarter valued at $895,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in shares of Cameco during the fourth quarter valued at $617,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.