Cameco (NYSE:CCJ) Stock Rating Upgraded by Janney Montgomery Scott

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by investment analysts at Janney Montgomery Scott to a “strong-buy” rating in a research note issued on Friday, Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Scotiabank reduced their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Bank of America increased their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group increased their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

CCJ stock opened at $51.42 on Friday. Cameco has a 1 year low of $35.43 and a 1 year high of $56.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The stock’s 50 day moving average price is $41.93 and its 200 day moving average price is $47.04. The firm has a market cap of $22.38 billion, a P/E ratio of 131.85 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same period in the previous year, the company posted ($0.01) EPS. Cameco’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, sell-side analysts expect that Cameco will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Murphy Pohlad Asset Management LLC increased its holdings in shares of Cameco by 0.3% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 75,720 shares of the basic materials company’s stock worth $3,280,000 after buying an additional 200 shares during the last quarter. Silvia Mccoll Wealth Management LLC increased its holdings in shares of Cameco by 3.9% during the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after buying an additional 210 shares during the last quarter. LRI Investments LLC increased its holdings in shares of Cameco by 39.0% during the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares during the last quarter. S.A. Mason LLC increased its holdings in shares of Cameco by 8.1% during the 2nd quarter. S.A. Mason LLC now owns 3,449 shares of the basic materials company’s stock worth $170,000 after buying an additional 258 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Cameco by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 17,598 shares of the basic materials company’s stock worth $867,000 after buying an additional 288 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.