Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $147.42.
A number of equities analysts have commented on CCJ shares. Glj Research reiterated a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Barclays started coverage on shares of Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective on the stock. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Cameco to $202.00 in a report on Monday, March 9th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday.
Check Out Our Latest Stock Report on Cameco
Cameco Stock Performance
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued 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. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the previous year, the business posted $0.16 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Cameco will post 1.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cameco
A number of institutional investors have recently added to or reduced their stakes in CCJ. Norges Bank bought a new stake in shares of Cameco in the 4th quarter worth about $443,265,000. TD Asset Management Inc increased its position in shares of Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. Marshall Wace LLP increased its position in shares of Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. Finally, Mizuho Markets Cayman LP bought a new stake in shares of Cameco in the 3rd quarter worth about $128,370,000. Institutional investors and hedge funds 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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