Bank of America Issues Pessimistic Forecast for Cameco (NYSE:CCJ) Stock Price

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective decreased by stock analysts at Bank of America from $143.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price target indicates a potential upside of 47.58% from the company’s current price.

Other equities analysts also recently issued reports about the company. William Blair assumed coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Barclays started coverage on Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price on the stock. Royal Bank Of Canada lifted their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.11.

Cameco Trading Up 0.2%

Shares of Cameco stock opened at $94.86 on Thursday. Cameco has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $41.32 billion, a PE ratio of 87.84, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a 50-day moving average of $107.62 and a two-hundred day moving average of $110.87.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. On average, research analysts anticipate that Cameco will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bison Wealth LLC lifted its position in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after acquiring an additional 2,975 shares in the last quarter. AQR Capital Management LLC increased its position in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco in the 2nd quarter valued at about $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.