Cameco (NYSE:CCJ) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Cameco (NYSE:CCJ) (TSE:CCO) had its price target increased by equities research analysts at The Goldman Sachs Group from $65.00 to $78.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 17.93% from the company’s previous close.

A number of other brokerages also recently weighed in on CCJ. Stifel Nicolaus began coverage on Cameco in a report on Wednesday, March 12th. They issued a “buy” rating on the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the company an “outperform” rating in a research note on Tuesday. Glj Research upped their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and an average price target of $75.63.

Cameco Price Performance

NYSE CCJ opened at $66.14 on Wednesday. The business’s fifty day moving average is $50.11 and its two-hundred day moving average is $49.51. The stock has a market capitalization of $28.79 billion, a P/E ratio of 236.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a 1 year low of $35.00 and a 1 year high of $68.12.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, research analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sierra Ocean LLC bought a new stake in Cameco in the fourth quarter worth $25,000. Manchester Capital Management LLC lifted its position in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Cameco during the 4th quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Cameco during the 4th quarter valued at about $28,000. Finally, Dagco Inc. bought a new position in shares of Cameco in the 1st quarter valued at approximately $28,000. 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.