Cameco (NYSE:CCJ) Price Target Raised to $100.00

Cameco (NYSE:CCJ) (TSE:CCO) had its target price raised by Royal Bank Of Canada from $90.00 to $100.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. UBS Group reiterated a “buy” rating on shares of Cameco in a report on Tuesday, June 10th. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. The Goldman Sachs Group raised their price objective on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Finally, Glj Research reaffirmed a “buy” rating and issued a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $77.30.

Cameco Trading Down 1.9%

Shares of Cameco stock opened at $68.33 on Friday. Cameco has a 12-month low of $35.00 and a 12-month high of $71.31. The company has a market cap of $29.75 billion, a price-to-earnings ratio of 170.83 and a beta of 0.97. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $53.72 and its 200-day moving average price is $49.78.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to analysts’ expectations of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, equities analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Hedge funds have recently bought and sold shares of the business. Hurley Capital LLC bought a new stake in shares of Cameco during the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco during the 4th quarter valued at approximately $28,000. Manchester Capital Management LLC grew its stake in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. Whipplewood Advisors LLC purchased a new position in Cameco in the 4th quarter worth approximately $33,000. Finally, Dagco Inc. purchased a new position in Cameco in the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.