Cameco’s (CCJ) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note released on Tuesday,Benzinga reports. They currently have a $90.00 price target on the basic materials company’s stock.

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $71.25.

Cameco Stock Performance

Shares of Cameco stock opened at $42.16 on Tuesday. The firm’s 50 day moving average is $49.01 and its two-hundred day moving average is $49.89. The firm has a market capitalization of $18.35 billion, a P/E ratio of 150.59 and a beta of 0.94. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data 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 return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Research analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Hedge funds have recently bought and sold shares of the company. Dantai Capital Ltd grew its holdings in Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after buying an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC acquired a new stake in shares of Cameco during the fourth quarter valued at $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco in the 4th quarter valued at about $445,000. Sprott Inc. lifted its holdings in Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after purchasing an additional 34,483 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Cameco during the 3rd quarter worth about $5,305,000. 70.21% of the stock is 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.