Glj Research Issues Positive Forecast for Cameco (NYSE:CCJ) Stock Price

Cameco (NYSE:CCJ) (TSE:CCO) had its target price boosted by stock analysts at Glj Research from $62.76 to $75.68 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Glj Research’s target price would indicate a potential upside of 81.51% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus started coverage on Cameco in a research report on Wednesday. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $73.64.

Cameco Price Performance

Shares of NYSE:CCJ opened at $41.70 on Wednesday. The company has a market capitalization of $18.15 billion, a P/E ratio of 148.91 and a beta of 1.04. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55. The firm’s 50 day simple moving average is $48.40 and its two-hundred day simple moving average is $50.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. Research analysts expect that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Sierra Ocean LLC purchased a new stake in Cameco during the fourth quarter valued at approximately $25,000. Hurley Capital LLC purchased a new stake in Cameco during the 4th quarter valued at $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Cameco in the fourth quarter worth $28,000. Pingora Partners LLC bought a new position in Cameco during the third quarter valued at $33,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Cameco in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.