Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
A number of other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada boosted their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. William Blair began coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Barclays began coverage on shares of Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target for the company. Finally, Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.52.
Read Our Latest Stock Analysis on Cameco
Cameco Stock Up 1.6%
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. Equities research analysts expect that Cameco will post 1.2 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors grew its position in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after buying an additional 41,430 shares during the last quarter. Van ECK Associates Corp increased its stake in Cameco by 15.6% in the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after buying an additional 849,188 shares during the period. Morgan Stanley raised its position in Cameco by 7.0% during the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after buying an additional 323,693 shares during the last quarter. Finally, Norges Bank purchased a new position in Cameco during the 4th quarter worth $443,265,000. Institutional investors and hedge funds own 70.21% of the company’s stock.
Key Cameco News
Here are the key news stories impacting Cameco this week:
- Positive Sentiment: Some analysts remain constructive on Cameco, pointing to strong uranium production, diversification from Westinghouse and Fuel Services, and a high price target that implies meaningful upside. Cameco Q2 Preview: Earnings Could Restart The Nuclear Rally
- Neutral Sentiment: Coverage comparing Cameco with Energy Fuels argued that CCJ is a weaker uranium opportunity today, though the view was based more on relative fundamentals than a fresh company-specific event. UUUU vs. CCJ: Which Uranium Stock Offers the Better Opportunity Today?
- Neutral Sentiment: A Seeking Alpha article also argued that Wall Street may be paying too much for Cameco’s long-term nuclear growth story, adding to the debate around valuation rather than changing the underlying business outlook. Cameco: Wall Street Is Paying Too Much For A Nuclear Dream
- Negative Sentiment: Investor concern increased after Cameco’s temporary Cigar Lake mining suspension, which raised questions about near-term production reliability and helped push the stock lower. Cameco Falls as Investors Weigh Mine Disruption and Softer Uranium Sentiment
- Negative Sentiment: Unusual trading in CCJ put options suggests traders were positioning for more downside, reinforcing the cautious tone around the 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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