Shares of Cameco Co. (NYSE:CCJ – Get Free Report) (TSE:CCO) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $57.87.
A number of research analysts have recently issued reports on the company. Bank of America upped their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank dropped their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. Glj Research reissued a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th.
View Our Latest Analysis on CCJ
Cameco Stock Up 2.4 %
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. Cameco’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. On average, analysts anticipate that Cameco will post 1.06 EPS for the current fiscal year.
Institutional Trading of Cameco
Several large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Cameco during the fourth quarter valued at about $99,511,000. Massachusetts Financial Services Co. MA purchased a new stake in Cameco in the 2nd quarter worth approximately $73,125,000. National Bank of Canada FI raised its stake in Cameco by 25.6% during the 4th quarter. National Bank of Canada FI now owns 4,180,221 shares of the basic materials company’s stock worth $175,714,000 after acquiring an additional 850,704 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cameco during the first quarter valued at approximately $31,131,000. Finally, King Luther Capital Management Corp bought a new position in shares of Cameco in the second quarter worth approximately $32,740,000. 70.21% of the stock is currently owned by institutional investors.
About Cameco
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.
Recommended Stories
- Five stocks we like better than Cameco
- The Risks of Owning Bonds
- Moderna Dips on Q2 Earnings But Can It Rip on a Short Squeeze?
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- 2 Option Strategies to Maximize Profits in a Bear Market
- What is a Secondary Public Offering? What Investors Need to Know
- Lululemon Stock Gears Up for a Massive Comeback Rally
Receive News & Ratings for Cameco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cameco and related companies with MarketBeat.com's FREE daily email newsletter.