Royal Bank Of Canada Cuts Cameco (NYSE:CCJ) Price Target to $150.00

Cameco (NYSE:CCJ) (TSE:CCO) had its target price dropped by investment analysts at Royal Bank Of Canada from $160.00 to $150.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 71.73% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. CLSA initiated coverage on shares of Cameco in a report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 target price on the stock. Raymond James Financial boosted their target price on Cameco to $150.00 in a report on Wednesday, October 29th. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. The Goldman Sachs Group raised their price objective on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.75.

Cameco Stock Performance

Shares of Cameco stock traded down $5.22 during trading on Thursday, reaching $87.35. The company’s stock had a trading volume of 2,223,762 shares, compared to its average volume of 4,874,685. Cameco has a one year low of $35.00 and a one year high of $110.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market cap of $38.03 billion, a price-to-earnings ratio of 100.64 and a beta of 0.98. The business’s fifty day moving average price is $87.72 and its 200-day moving average price is $74.46.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. 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 year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently bought and sold shares of CCJ. Manchester Capital Management LLC grew its position in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Financial Consulate Inc. acquired a new stake in Cameco in the third quarter valued at $25,000. Dagco Inc. acquired a new stake in Cameco in the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new position in Cameco during the first quarter worth about $29,000. Finally, Trust Co. of Vermont raised its stake in Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds 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.