Brokerages Set Cameco Co. (NYSE:CCJ) Price Target at $66.56

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have been given an average rating of “Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $66.56.

CCJ has been the topic of several research analyst reports. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. National Bank Financial raised Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank cut their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Glj Research reissued a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th.

Cameco Price Performance

CCJ stock opened at $53.59 on Friday. Cameco has a 52-week low of $35.43 and a 52-week high of $58.72. The business has a fifty day moving average of $48.03 and a two-hundred day moving average of $48.15. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of 124.63 and a beta of 0.89. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Cameco

A number of large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Cameco during the 1st quarter worth about $26,000. JFS Wealth Advisors LLC raised its position in shares of Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 550 shares in the last quarter. Larson Financial Group LLC lifted its stake in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Cameco by 68.8% in the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 642 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other 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.