Royal Bank Of Canada Raises Cameco (NYSE:CCJ) Price Target to $100.00

Cameco (NYSE:CCJ) (TSE:CCO) had its price target lifted by research analysts at Royal Bank Of Canada from $90.00 to $100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 46.94% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their target price on Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Stifel Nicolaus assumed coverage on shares of Cameco in a research note on Wednesday, March 12th. They set a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, May 14th. Glj Research reissued a “buy” rating and set a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus price target of $77.30.

Cameco Stock Performance

Cameco stock traded down $1.61 during mid-day trading on Friday, reaching $68.06. 1,338,924 shares of the company traded hands, compared to its average volume of 4,391,498. The firm’s fifty day moving average is $53.17 and its two-hundred day moving average is $49.87. The company has a market capitalization of $29.63 billion, a price-to-earnings ratio of 170.76 and a beta of 0.97. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $71.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. Cameco’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. On average, equities research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Manchester Capital Management LLC grew its position in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. Hurley Capital LLC acquired a new stake in Cameco in the fourth quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Cameco in the fourth quarter valued at approximately $28,000. Dagco Inc. acquired a new position in shares of Cameco during the 1st quarter worth approximately $28,000. Finally, SVB Wealth LLC purchased a new position in shares of Cameco during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.