Cameco (CCJ) Hits New 52-Week High on Analyst Upgrade

Shares of Cameco Corp (NYSE:CCJ) (TSE:CCO) reached a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock from $15.00 to $16.00. Royal Bank of Canada currently has a sector perform rating on the stock. Cameco traded as high as $12.71 and last traded at $12.48, with a volume of 471244 shares traded. The stock had previously closed at $12.10.

CCJ has been the topic of a number of other reports. Scotia Howard Weill upgraded shares of Cameco from a “sector underperform” rating to a “sector perform” rating in a research note on Friday, September 28th. TheStreet lowered shares of Cameco from a “c” rating to a “d+” rating in a research note on Monday, July 30th. BMO Capital Markets upgraded shares of Cameco from a “market perform” rating to an “outperform” rating and set a $16.00 target price on the stock in a research note on Thursday, September 27th. Zacks Investment Research lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. Finally, TD Securities upgraded shares of Cameco from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.67.

A number of institutional investors have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. increased its stake in Cameco by 39.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 6,327,039 shares of the basic materials company’s stock valued at $71,179,000 after purchasing an additional 1,779,069 shares during the last quarter. Exor Investments UK LLP increased its stake in Cameco by 31.7% in the second quarter. Exor Investments UK LLP now owns 5,967,410 shares of the basic materials company’s stock valued at $67,133,000 after purchasing an additional 1,435,286 shares during the last quarter. Morgan Stanley increased its stake in Cameco by 1.1% in the second quarter. Morgan Stanley now owns 4,497,101 shares of the basic materials company’s stock valued at $50,593,000 after purchasing an additional 50,015 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Cameco by 23.4% in the third quarter. Russell Investments Group Ltd. now owns 4,403,105 shares of the basic materials company’s stock valued at $50,161,000 after purchasing an additional 835,328 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Cameco by 71.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,809,063 shares of the basic materials company’s stock valued at $42,826,000 after purchasing an additional 1,593,300 shares during the last quarter. Institutional investors own 50.95% of the company’s stock.

The company has a market cap of $4.41 billion, a P/E ratio of 104.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.58 and a current ratio of 6.16.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, November 2nd. The basic materials company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The company had revenue of $488.00 million for the quarter, compared to analyst estimates of $576.92 million. Cameco had a negative net margin of 2.65% and a positive return on equity of 3.96%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) earnings per share. On average, analysts expect that Cameco Corp will post 0.02 EPS for the current fiscal year.

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Cameco Company Profile (NYSE:CCJ)

Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.

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