The Goldman Sachs Group Issues Positive Forecast for Cameco (NYSE:CCJ) Stock Price

Cameco (NYSE:CCJ) (TSE:CCO) had its price target increased by analysts at The Goldman Sachs Group from $65.00 to $78.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 19.37% from the stock’s current price.

Several other research firms have also weighed in on CCJ. Glj Research upped their price target on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. UBS Group reissued a “buy” rating on shares of Cameco in a research note on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, May 14th. Desjardins began coverage on shares of Cameco in a research note on Friday, April 4th. They issued a “buy” rating for the company. Finally, Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco has an average rating of “Buy” and a consensus target price of $75.70.

Cameco Stock Up 2.4%

CCJ stock opened at $65.35 on Wednesday. The firm has a market cap of $28.45 billion, a price-to-earnings ratio of 233.06 and a beta of 0.97. Cameco has a 1-year low of $35.00 and a 1-year high of $68.12. The firm has a fifty day moving average price of $48.97 and a two-hundred day moving average price of $49.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

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). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. Cameco’s quarterly revenue was up 24.4% compared to the same quarter last year. Research analysts predict that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors acquired a new stake in shares of Cameco during the 4th quarter worth about $839,000. Sprott Inc. increased its holdings in shares of Cameco by 44.5% during the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after buying an additional 34,483 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Cameco in the fourth quarter valued at approximately $930,000. Plato Investment Management Ltd acquired a new position in shares of Cameco in the 4th quarter worth approximately $360,000. Finally, Tidal Investments LLC boosted its holdings in shares of Cameco by 44.7% in the 4th quarter. Tidal Investments LLC now owns 36,736 shares of the basic materials company’s stock worth $1,888,000 after acquiring an additional 11,340 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About Cameco

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.