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

Cameco (NYSE:CCJ) (TSE:CCO) had its price objective hoisted by Scotiabank from C$27.00 to C$35.00 in a report published on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the basic materials company’s stock.

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

CCJ opened at $25.64 on Tuesday. The stock has a market cap of $10.20 billion, a P/E ratio of -641.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.94 and a quick ratio of 5.98. The stock’s 50 day simple moving average is $20.22 and its 200 day simple moving average is $19.08. Cameco has a 1-year low of $9.01 and a 1-year high of $26.57.

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

Large investors have recently bought and sold shares of the stock. Capital Analysts LLC acquired a new position in Cameco in the second quarter worth about $29,000. Carroll Financial Associates Inc. acquired a new position in Cameco in the third quarter worth about $37,000. Fifth Third Bancorp grew its stake in Cameco by 543.6% in the second quarter. Fifth Third Bancorp now owns 1,757 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 1,484 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Cameco in the third quarter worth about $45,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in Cameco in the second quarter worth about $46,000. Institutional investors and hedge funds own 60.11% of the company’s stock.

About Cameco

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.

See Also: Moving Average (MA)

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