Scotiabank Trims Cameco (NYSE:CCJ) Target Price to $80.00

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective decreased by Scotiabank from $81.00 to $80.00 in a research note published on Monday morning, Benzinga reports. Scotiabank currently has an outperform rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on CCJ. Bank of America lifted their target price on Cameco from $59.00 to $60.50 and gave the stock a buy rating in a research note on Wednesday, June 26th. The Goldman Sachs Group boosted their target price on shares of Cameco from $56.00 to $62.00 and gave the company a buy rating in a research note on Friday, June 7th. Cantor Fitzgerald upgraded shares of Cameco from a neutral rating to an overweight rating in a research note on Wednesday, July 31st. Finally, Glj Research reaffirmed a buy rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cameco presently has a consensus rating of Moderate Buy and an average price target of $65.37.

Cameco Stock Performance

Shares of CCJ stock opened at $41.40 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 0.69. The firm has a 50-day moving average of $46.59 and a 200-day moving average of $46.90. Cameco has a one year low of $35.15 and a one year high of $56.24. The company has a market cap of $18.02 billion, a P/E ratio of 106.15 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. Equities research analysts forecast that Cameco will post 1.06 EPS for the current fiscal year.

Institutional Trading of Cameco

Institutional investors have recently modified their holdings of the business. Bornite Capital Management LP bought a new stake in Cameco during the 4th quarter valued at $6,590,000. Tidal Investments LLC raised its stake in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 2,683 shares during the period. Eaton Financial Holdings Company LLC bought a new position in Cameco in the 4th quarter worth about $1,327,000. LRI Investments LLC purchased a new position in Cameco during the 1st quarter valued at about $30,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Cameco during the first quarter valued at about $295,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.