Cameco (NYSE:CCJ) Now Covered by CLSA

Investment analysts at CLSA started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $102.00 price target on the basic materials company’s stock. CLSA’s price objective points to a potential upside of 31.80% from the company’s current price.

Other equities analysts have also issued reports about the stock. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Cameco from a “hold” rating to a “buy” rating in a report on Sunday. Glj Research reissued a “buy” rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. National Bankshares reissued an “outperform” rating on shares of Cameco in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada boosted their price target on shares of Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $87.05.

Cameco Stock Performance

NYSE:CCJ opened at $77.39 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The firm has a market capitalization of $33.69 billion, a price-to-earnings ratio of 88.95 and a beta of 1.04. The company’s 50-day moving average is $75.81 and its two-hundred day moving average is $59.27. Cameco has a 1-year low of $35.00 and a 1-year high of $83.02.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco’s revenue was up 46.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Analysts forecast that Cameco will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Large investors have recently modified their holdings of the company. Manchester Capital Management LLC increased its position in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Dagco Inc. purchased a new stake in shares of Cameco in the 1st quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in shares of Cameco in the 1st quarter valued at approximately $29,000. Trust Co. of Vermont increased its position in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of Cameco in the 2nd quarter valued at approximately $30,000. 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.