Cameco’s (CCJ) “Buy” Rating Reaffirmed at Glj Research

Glj Research reissued their buy rating on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a report released on Thursday,Benzinga reports. They currently have a $75.27 price target on the basic materials company’s stock.

CCJ has been the subject of several other reports. Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an “outperform” rating in a research report on Tuesday. Desjardins initiated coverage on shares of Cameco in a research report on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of $75.63.

Cameco Stock Up 0.7%

CCJ stock opened at $66.60 on Thursday. The stock has a market capitalization of $28.99 billion, a PE ratio of 237.85 and a beta of 0.97. The company has a fifty day moving average of $50.71 and a 200-day moving average of $49.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a one year low of $35.00 and a one year high of $68.12.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same quarter in the previous year, the business earned $0.13 EPS. Cameco’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, analysts expect that Cameco will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in Cameco by 166.4% during the 4th quarter. Empowered Funds LLC now owns 42,813 shares of the basic materials company’s stock worth $2,200,000 after purchasing an additional 26,742 shares in the last quarter. Savant Capital LLC raised its stake in Cameco by 3.8% during the fourth quarter. Savant Capital LLC now owns 14,334 shares of the basic materials company’s stock worth $737,000 after purchasing an additional 526 shares during the period. Leavell Investment Management Inc. grew its position in Cameco by 0.9% during the fourth quarter. Leavell Investment Management Inc. now owns 54,150 shares of the basic materials company’s stock valued at $2,783,000 after acquiring an additional 500 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Cameco during the 4th quarter worth about $4,647,000. Finally, Van ECK Associates Corp raised its holdings in Cameco by 34.6% in the fourth quarter. Van ECK Associates Corp now owns 2,132,615 shares of the basic materials company’s stock valued at $109,592,000 after buying an additional 547,793 shares during the period. 70.21% of the stock is currently 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.