Cameco's (CCJ) Outperform Rating Reiterated at Royal Bank of Canada

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO's stock had its "outperform" rating restated by Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $90.00 price target on the basic materials company's stock. Royal Bank of Canada's price objective indicates a potential upside of 109.38% from the company's previous close.

Separately, StockNews.com upgraded shares of Cameco from a "sell" rating to a "hold" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of "Buy" and a consensus target price of $71.25.

Cameco Stock Performance

Cameco stock traded up $1.10 during midday trading on Tuesday, reaching $42.99. 3,518,191 shares of the company's stock were exchanged, compared to its average volume of 4,146,714. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market cap of $18.71 billion, a price-to-earnings ratio of 153.52 and a beta of 0.94. The stock's 50-day simple moving average is $49.22 and its 200 day simple moving average is $49.95.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts' consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. On average, analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Polar Asset Management Partners Inc. grew its holdings in shares of Cameco by 337.2% during the 4th quarter. Polar Asset Management Partners Inc. now owns 98,376 shares of the basic materials company's stock worth $5,055,000 after acquiring an additional 75,876 shares during the period. Hall Capital Management Co. Inc. bought a new position in shares of Cameco during the 4th quarter valued at $204,000. Ameriflex Group Inc. bought a new position in shares of Cameco during the 4th quarter valued at $40,000. Jupiter Wealth Management LLC bought a new position in Cameco in the 4th quarter worth $514,000. Finally, Formidable Asset Management LLC raised its holdings in Cameco by 13.4% in the 4th quarter. Formidable Asset Management LLC now owns 18,756 shares of the basic materials company's stock worth $964,000 after purchasing an additional 2,215 shares during the period. Institutional investors own 70.21% of the company's stock.

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.