Cameco (NYSE:CCJ) Rating Increased to Strong-Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) to a strong-buy rating in a research note issued to investors on Thursday, MarketBeat.com reports.

Several other research firms have also issued reports on CCJ. Bank of America dropped their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Barclays lowered their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $145.09.

Cameco Stock Up 4.3%

Cameco stock opened at $100.56 on Thursday. The stock has a market cap of $43.80 billion, a PE ratio of 170.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The firm’s 50-day simple moving average is $95.33 and its 200 day simple moving average is $106.45. Cameco has a fifty-two week low of $74.63 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The company had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. Research analysts predict that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently modified their holdings of the business. Amundi grew its stake in shares of Cameco by 13.7% in the second quarter. Amundi now owns 2,992,074 shares of the basic materials company’s stock worth $304,773,000 after acquiring an additional 359,375 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Cameco during the 2nd quarter valued at $249,000. Yarger Wealth Strategies LLC bought a new position in shares of Cameco during the 2nd quarter valued at $246,000. HB Wealth Management LLC lifted its holdings in Cameco by 14.1% in the second quarter. HB Wealth Management LLC now owns 4,061 shares of the basic materials company’s stock valued at $414,000 after acquiring an additional 501 shares during the period. Finally, FirstWave Capital Management LLC bought a new stake in shares of Cameco during the 2nd quarter valued at about $977,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.