Raymond James Reaffirms “Buy” Rating for Cameco (NYSE:CCJ)

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Cameco (NYSE:CCJ) (TSE:CCO)‘s stock had its “buy” rating restated by Raymond James in a report released on Thursday, AnalystRatings.com reports. They currently have a $15.00 price objective on the basic materials company’s stock. Raymond James’ price target points to a potential upside of 126.24% from the stock’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets reissued a “buy” rating and issued a $12.00 target price on shares of Cameco in a report on Wednesday. ValuEngine downgraded Cameco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. Zacks Investment Research upgraded Cameco from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Monday, March 9th. Finally, Scotiabank upgraded Cameco to a “buy” rating and set a $13.00 price target on the stock in a research note on Friday, March 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.50.

Shares of Cameco stock traded up $0.20 during trading on Thursday, reaching $6.63. The company’s stock had a trading volume of 769,497 shares, compared to its average volume of 3,232,426. Cameco has a 52-week low of $5.30 and a 52-week high of $12.12. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 47.36 and a beta of 0.59. The firm’s 50-day moving average is $8.11 and its two-hundred day moving average is $8.89. The company has a quick ratio of 5.36, a current ratio of 6.51 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 7th. The basic materials company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.04 by $0.14. The company had revenue of $871.00 million for the quarter, compared to analyst estimates of $796.59 million. Cameco had a return on equity of 0.84% and a net margin of 4.01%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, equities research analysts anticipate that Cameco will post 0.02 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CCJ. Quadrant Capital Group LLC lifted its position in shares of Cameco by 318.8% in the fourth quarter. Quadrant Capital Group LLC now owns 6,851 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 5,215 shares in the last quarter. Exane Derivatives increased its stake in Cameco by 10,895.5% in the fourth quarter. Exane Derivatives now owns 7,367 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 7,300 shares during the last quarter. Courier Capital LLC acquired a new position in Cameco in the fourth quarter valued at $89,000. Atria Investments LLC acquired a new position in Cameco in the fourth quarter valued at $111,000. Finally, Blair William & Co. IL acquired a new position in Cameco in the fourth quarter valued at $115,000. Institutional investors own 59.79% of the company’s stock.

Cameco Company Profile

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.

See Also: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for Cameco (NYSE:CCJ)

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