Cameco Co. (NYSE:CCJ) Receives $66.56 Average Price Target from Brokerages

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO have been assigned an average rating of "Buy" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $66.56.

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

Institutional Investors Weigh In On Cameco

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company's stock valued at $689,306,000 after acquiring an additional 200,871 shares during the period. Capital World Investors boosted its holdings in Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company's stock valued at $593,524,000 after purchasing an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company's stock worth $282,210,000 after purchasing an additional 202,157 shares during the period. William Blair Investment Management LLC raised its stake in shares of Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company's stock valued at $204,672,000 after buying an additional 265,196 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Cameco by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company's stock valued at $192,622,000 after buying an additional 176,183 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Up 0.5 %

Shares of CCJ stock traded up $0.28 during mid-day trading on Friday, hitting $52.50. The stock had a trading volume of 4,298,144 shares, compared to its average volume of 4,815,722. Cameco has a 12-month low of $35.43 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The firm's 50-day moving average is $47.19 and its two-hundred day moving average is $48.05. The firm has a market capitalization of $22.85 billion, a P/E ratio of 122.09 and a beta of 0.89.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm's revenue was up 24.1% on a year-over-year basis. On average, analysts predict that Cameco will post 0.83 earnings per share for the current fiscal year.

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.