Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) was upgraded by investment analysts at Barclays to a “hold” rating in a research report issued on Thursday,Zacks.com reports.
A number of other brokerages have also commented on CCJ. William Blair initiated coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Finally, Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus target price of $148.62.
Check Out Our Latest Research Report on Cameco
Cameco Price Performance
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Research analysts expect that Cameco will post 1.32 EPS for the current year.
Hedge Funds Weigh In On Cameco
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new position in Cameco during the fourth quarter worth about $25,000. Founders Capital Management bought a new position in Cameco during the fourth quarter worth about $27,000. Strategic Advocates LLC bought a new position in Cameco during the third quarter worth about $28,000. Mcguire Capital Advisors Inc. bought a new position in Cameco during the fourth quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after buying an additional 307 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.
About Cameco
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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