Cameco (NYSE:CCJ) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a buy rating in a research report report published on Sunday.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. TD Securities reissued a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Scotiabank reissued an “outperform” rating on shares of Cameco in a report on Tuesday, July 8th. National Bankshares reissued an “outperform” rating on shares of Cameco in a report on Friday, August 22nd. Finally, Glj Research reissued a “buy” rating and set a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco has an average rating of “Buy” and a consensus target price of $87.05.

Cameco Stock Up 0.2%

Shares of NYSE:CCJ opened at $77.39 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $83.02. The firm’s 50 day moving average price is $75.81 and its 200 day moving average price is $59.27. The stock has a market cap of $33.69 billion, a price-to-earnings ratio of 88.95 and a beta of 1.04.

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

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently modified their holdings of the business. SevenBridge Financial Group LLC purchased a new position in shares of Cameco during the second quarter worth approximately $208,000. Thompson Davis & CO. Inc. purchased a new position in shares of Cameco during the second quarter worth approximately $228,000. Coppell Advisory Solutions LLC purchased a new position in shares of Cameco during the second quarter worth approximately $296,000. Tyler Stone Wealth Management purchased a new position in Cameco in the 2nd quarter valued at $279,000. Finally, Westwood Holdings Group Inc. purchased a new position in Cameco in the 2nd quarter valued at $500,000. 70.21% of the stock is currently owned by hedge funds and other 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.