Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s share price was down 1.1% during mid-day trading on Thursday . The stock traded as low as $94.79 and last traded at $96.3580. 3,752,319 shares traded hands during trading, an increase of 1% from the average daily volume of 3,697,896 shares. The stock had previously closed at $97.39.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on CCJ. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Canadian Imperial Bank of Commerce raised their price target on shares of Cameco to $202.00 in a research report on Monday, March 9th. Barclays assumed coverage on shares of Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.92.
View Our Latest Analysis on CCJ
Cameco Trading Down 1.1%
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. As a group, equities analysts forecast that Cameco Corporation will post 1.21 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Legal & General Group Plc grew its holdings in Cameco by 4.6% during the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after buying an additional 108,841 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in shares of Cameco in the fourth quarter valued at approximately $1,974,000. Vanguard Group Inc. grew its stake in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cameco by 0.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after acquiring an additional 85,762 shares in the last quarter. Finally, Nikulski Financial Inc. bought a new stake in Cameco during the 4th quarter worth approximately $930,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.
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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