CLSA Begins Coverage on Cameco (NYSE:CCJ)

Investment analysts at CLSA assumed coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a note issued to investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $102.00 price target on the basic materials company’s stock. CLSA’s target price indicates a potential upside of 28.25% from the stock’s current price.

Several other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Cameco from a “hold” rating to a “buy” rating in a research report on Sunday. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research note on Friday, August 22nd. Glj Research reaffirmed a “buy” rating and issued a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat.com, Cameco currently has an average rating of “Buy” and a consensus target price of $87.05.

Cameco Stock Performance

CCJ stock opened at $79.53 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company has a 50 day moving average price of $75.97 and a 200 day moving average price of $59.41. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $83.02. The stock has a market capitalization of $34.63 billion, a PE ratio of 91.42 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm had revenue of $467.72 million during the quarter, compared to analysts’ expectations of $819.79 million. During the same quarter in the previous year, the company posted $0.14 EPS. Cameco’s revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Analysts forecast that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Norges Bank bought a new position in Cameco in the 2nd quarter valued at about $341,736,000. Alliancebernstein L.P. raised its holdings in Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after acquiring an additional 3,959,837 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares during the period. Canada Pension Plan Investment Board raised its holdings in Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock valued at $83,636,000 after acquiring an additional 1,387,797 shares during the period. Finally, Temasek Holdings Private Ltd bought a new position in Cameco in the 1st quarter valued at about $55,513,000. 70.21% of the stock is owned by institutional investors.

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.