Brokerages Set Cameco Corporation (NYSE:CCJ) Price Target at $148.68

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) have received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $148.6833.

CCJ has been the subject of a number of recent analyst reports. Citigroup reiterated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Royal Bank Of Canada raised their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Weiss Ratings downgraded shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Jefferies Financial Group began coverage on shares of Cameco in a report on Thursday, September 3rd. They set a “buy” rating and a $138.00 price objective on the stock. Finally, Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th.

Cameco Stock Down 4.0%

Shares of CCJ stock opened at $90.82 on Friday. The stock’s fifty day moving average price is $95.04 and its 200 day moving average price is $104.20. Cameco has a 1-year low of $77.70 and a 1-year high of $135.24. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 153.93, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of Cameco during the second quarter worth about $735,498,000. Norges Bank acquired a new position in Cameco in the 4th quarter worth approximately $443,265,000. Canada Pension Plan Investment Board purchased a new position in Cameco during the 2nd quarter worth approximately $420,346,000. BlackRock Inc. purchased a new position in Cameco during the 2nd quarter worth approximately $381,091,000. Finally, Cibc World Market Inc. acquired a new stake in Cameco during the 2nd quarter valued at approximately $354,022,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.