Glj Research Forecasts Strong Price Appreciation for Cameco (NYSE:CCJ) Stock

Cameco (NYSE:CCJ) (TSE:CCO) had its price target upped by Glj Research from $62.76 to $75.68 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other research analysts have also recently weighed in on CCJ. Stifel Nicolaus initiated coverage on Cameco in a research note on Wednesday. They set a “buy” rating for the company. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Trading Up 1.5 %

NYSE:CCJ opened at $42.44 on Wednesday. Cameco has a 1 year low of $35.43 and a 1 year high of $62.55. The stock has a market cap of $18.47 billion, a price-to-earnings ratio of 151.55 and a beta of 1.04. The business has a fifty day moving average of $47.80 and a 200-day moving average of $49.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate 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. Equities analysts predict that Cameco will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Janney Montgomery Scott LLC boosted its position in shares of Cameco by 700.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 46,218 shares of the basic materials company’s stock valued at $2,207,000 after purchasing an additional 40,442 shares during the period. Old West Investment Management LLC lifted its stake in Cameco by 10.4% in the 3rd quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock worth $13,472,000 after acquiring an additional 26,584 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cameco by 1,138.1% in the 3rd quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock worth $12,774,000 after acquiring an additional 245,831 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Cameco in the 3rd quarter worth about $1,832,000. Finally, Verus Capital Partners LLC lifted its stake in Cameco by 8.9% in the 3rd quarter. Verus Capital Partners LLC now owns 17,582 shares of the basic materials company’s stock worth $840,000 after acquiring an additional 1,432 shares in the last quarter. 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.