Cameco (NYSE:CCJ) Coverage Initiated by Analysts at Sanford C. Bernstein

Analysts at Sanford C. Bernstein started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a report released on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $52.00 price target on the basic materials company’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 22.38% from the stock’s current price.

Several other research firms also recently weighed in on CCJ. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Glj Research boosted their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a “buy” rating for the company. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Cameco has an average rating of “Buy” and a consensus target price of $70.03.

Cameco Price Performance

Cameco stock opened at $42.49 on Tuesday. Cameco has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 151.75 and a beta of 1.04. The firm’s fifty day moving average is $45.70 and its 200 day moving average is $50.33. 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 announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS 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 firm had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Sell-side analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Institutional investors have recently modified their holdings of the stock. Sierra Ocean LLC purchased a new position in shares of Cameco during the fourth quarter valued at $25,000. Hurley Capital LLC purchased a new position in Cameco during the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Cameco in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Cameco in the 4th quarter worth approximately $33,000. Finally, Pingora Partners LLC bought a new position in shares of Cameco during the third quarter valued at approximately $33,000. 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.