Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s share price was down 2% during mid-day trading on Friday . The company traded as low as $83.15 and last traded at $85.6080. Approximately 4,752,435 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 3,700,649 shares. The stock had previously closed at $87.36.
Analysts Set New Price Targets
CCJ has been the topic of a number of analyst reports. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Royal Bank Of Canada lifted their target price on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Barclays decreased their target price on shares of Cameco from $108.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.18.
Check Out Our Latest Stock Report on Cameco
Cameco Stock Performance
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS. On average, sell-side analysts predict that Cameco Corporation will post 1.29 EPS for the current fiscal year.
Hedge Funds Weigh In On Cameco
Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC purchased a new position in shares of Cameco during the first quarter valued at approximately $30,000. Nisa Investment Advisors LLC purchased a new stake in shares of Cameco in the 4th quarter worth approximately $25,000. Brown Lisle Cummings Inc. grew its stake in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Founders Capital Management bought a new position in Cameco during the 4th quarter valued at approximately $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Cameco during the 4th quarter valued at approximately $28,000. Institutional investors own 70.21% of the company’s 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.
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