Scotiabank Increases Cameco (NYSE:CCJ) Price Target to C$35.00

Cameco (NYSE:CCJ) (TSE:CCO) had its target price raised by stock analysts at Scotiabank from C$27.00 to C$35.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on the company. Raymond James increased their target price on Cameco from C$29.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Friday, September 17th. TD Securities raised Cameco from a “hold” rating to a “buy” rating and set a C$35.00 target price for the company in a research note on Tuesday, September 28th. Canaccord Genuity upped their price target on Cameco from C$27.00 to C$34.00 and gave the stock a “buy” rating in a report on Thursday, September 23rd. Royal Bank of Canada upgraded Cameco from an “underperform” rating to a “sector perform” rating in a report on Thursday, September 2nd. Finally, Zacks Investment Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a report on Thursday, September 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $28.43.

Shares of CCJ stock opened at $25.64 on Tuesday. The company has a market cap of $10.20 billion, a price-to-earnings ratio of -641.00 and a beta of 1.03. The stock has a 50 day simple moving average of $20.22 and a 200-day simple moving average of $19.08. Cameco has a 12-month low of $9.01 and a 12-month high of $26.57. The company has a current ratio of 7.94, a quick ratio of 5.98 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, July 27th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). The business had revenue of $292.25 million for the quarter. Cameco had a negative return on equity of 1.97% and a negative net margin of 1.50%. On average, equities analysts forecast that Cameco will post -0.14 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in CCJ. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cameco by 79.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,095,190 shares of the basic materials company’s stock valued at $117,646,000 after buying an additional 3,144,278 shares during the last quarter. Morgan Stanley grew its holdings in Cameco by 46.9% during the 2nd quarter. Morgan Stanley now owns 6,462,087 shares of the basic materials company’s stock valued at $123,942,000 after buying an additional 2,062,144 shares during the last quarter. Bank of Montreal Can grew its holdings in Cameco by 50.8% during the 1st quarter. Bank of Montreal Can now owns 4,531,355 shares of the basic materials company’s stock valued at $79,934,000 after buying an additional 1,527,082 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Cameco by 86.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 3,123,700 shares of the basic materials company’s stock valued at $59,913,000 after buying an additional 1,452,267 shares during the last quarter. Finally, Amundi purchased a new position in shares of Cameco during the 2nd quarter worth $23,053,000. Hedge funds and other institutional investors own 60.11% of the company’s stock.

Cameco Company Profile

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

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Analyst Recommendations for Cameco (NYSE:CCJ)

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