Scotiabank Boosts Cameco (NYSE:CCJ) Price Target to $22.00

Cameco (NYSE:CCJ) (TSE:CCO) had its target price raised by Scotiabank from $19.00 to $22.00 in a research report released on Monday morning, The Fly reports. The firm currently has an outperform rating on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald lowered shares of Cameco from a buy rating to a hold rating in a report on Monday, December 14th. BidaskClub upgraded shares of Cameco from a hold rating to a buy rating in a report on Tuesday, December 15th. TD Securities lowered shares of Cameco from a buy rating to a hold rating in a report on Wednesday, December 16th. Royal Bank of Canada downgraded shares of Cameco from a sector perform rating to an underperform rating and set a $16.00 price objective on the stock. in a research report on Wednesday, December 16th. Finally, Zacks Investment Research downgraded shares of Cameco from a hold rating to a sell rating in a research report on Wednesday, November 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Cameco currently has an average rating of Hold and a consensus price target of $16.25.

Shares of CCJ stock opened at $13.68 on Monday. The firm’s 50 day moving average price is $12.73 and its 200-day moving average price is $10.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 4.78. Cameco has a one year low of $5.30 and a one year high of $14.87. The firm has a market cap of $5.42 billion, a P/E ratio of -1,368,000.00 and a beta of 0.97.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Monday, November 9th. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.15). The company had revenue of $379.00 million during the quarter, compared to analyst estimates of $425.84 million. Cameco had a negative return on equity of 0.34% and a negative net margin of 0.09%. The business’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. As a group, research analysts predict that Cameco will post -0.17 EPS for the current fiscal year.

The business also recently announced an annual dividend, which was paid on Tuesday, December 15th. Investors of record on Monday, November 30th were given a $0.0609 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 27th. Cameco’s dividend payout ratio (DPR) is 75.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CLARET ASSET MANAGEMENT Corp grew its position in shares of Cameco by 3.8% in the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 39,918 shares of the basic materials company’s stock valued at $403,000 after buying an additional 1,455 shares during the last quarter. Regal Wealth Group Inc. grew its position in shares of Cameco by 81.4% in the 3rd quarter. Regal Wealth Group Inc. now owns 4,390 shares of the basic materials company’s stock valued at $44,000 after buying an additional 1,970 shares during the last quarter. Foundation Resource Management Inc. grew its position in shares of Cameco by 0.4% in the 3rd quarter. Foundation Resource Management Inc. now owns 536,524 shares of the basic materials company’s stock valued at $5,419,000 after buying an additional 2,012 shares during the last quarter. Crawford Investment Counsel Inc. grew its position in shares of Cameco by 1.3% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 319,491 shares of the basic materials company’s stock valued at $3,227,000 after buying an additional 4,240 shares during the last quarter. Finally, Pacifica Partners Inc. grew its position in shares of Cameco by 1,413.8% in the 3rd quarter. Pacifica Partners Inc. now owns 4,920 shares of the basic materials company’s stock valued at $50,000 after buying an additional 4,595 shares during the last quarter. 60.24% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation produces and sells uranium. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium property is the Cigar Lake property located in Saskatchewan, Canada.

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Analyst Recommendations for Cameco (NYSE:CCJ)

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