Bank of America Boosts Cameco (NYSE:CCJ) Price Target to C$46.00

Cameco (NYSE:CCJGet Rating) (TSE:CCO) had its target price upped by equities researchers at Bank of America from C$40.00 to C$46.00 in a note issued to investors on Tuesday, The Fly reports.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 10th. Canaccord Genuity Group upped their price objective on Cameco from C$34.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, February 10th. Canaccord Genuity Group upped their price objective on Cameco from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 10th. CIBC began coverage on Cameco in a report on Wednesday, January 19th. They issued an “outperform” rating on the stock. Finally, Royal Bank of Canada raised Cameco from a “sector perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.00.

CCJ opened at $31.59 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.18 and a quick ratio of 4.19. Cameco has a 12 month low of $15.34 and a 12 month high of $32.49. The business has a fifty day moving average price of $25.54 and a 200 day moving average price of $24.12.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last issued its quarterly earnings data on Wednesday, February 9th. The basic materials company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.07. Cameco had a negative return on equity of 2.00% and a negative net margin of 7.01%. The company had revenue of $368.91 million during the quarter. During the same quarter in the prior year, the firm posted $0.09 EPS. Research analysts anticipate that Cameco will post 0.08 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foundation Resource Management Inc. lifted its position in Cameco by 1.7% during the first quarter. Foundation Resource Management Inc. now owns 840,506 shares of the basic materials company’s stock worth $24,459,000 after buying an additional 14,310 shares during the period. Pacifica Partners Inc. raised its holdings in shares of Cameco by 1.1% in the 1st quarter. Pacifica Partners Inc. now owns 60,300 shares of the basic materials company’s stock worth $1,491,000 after purchasing an additional 640 shares during the period. Quaero Capital S.A. purchased a new position in shares of Cameco in the 1st quarter worth about $582,000. Confluence Investment Management LLC raised its holdings in shares of Cameco by 15.7% in the 1st quarter. Confluence Investment Management LLC now owns 16,378 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 2,221 shares during the period. Finally, Muhlenkamp & Co. Inc. raised its holdings in shares of Cameco by 0.8% in the 1st quarter. Muhlenkamp & Co. Inc. now owns 162,168 shares of the basic materials company’s stock worth $4,719,000 after purchasing an additional 1,252 shares during the period. Hedge funds and other institutional investors own 58.26% of the company’s stock.

Cameco Company Profile (Get Rating)

Cameco Corp. engages in the provision of uranium. It operates through the following segments: Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment is involved in the refining, conversion, and fabrication of uranium concentrate and the purchase and sale of conversion services.

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