Cameco (NYSE:CCJ) Stock Gets Price Target Reduction from Barclays

Cameco (NYSE:CCJ) (TSE:CCO) had its price target lowered by Barclays from $95.00 to $89.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Truist Financial decreased their target price on shares of Cameco from $130.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and an average price target of $147.38.

Cameco Stock Performance

Shares of NYSE CCJ opened at $71.67 on Monday. The company has a quick ratio of 2.10, a current ratio of 2.55 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $31.21 billion, a price-to-earnings ratio of 87.42, a PEG ratio of 1.61 and a beta of 1.18. The stock’s fifty day simple moving average is $88.75 and its 200 day simple moving average is $103.61. Cameco has a 52-week low of $69.55 and a 52-week high of $135.24.

Cameco Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a C$0.24 dividend. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 22.0%. Cameco’s dividend payout ratio is currently 25.76%.

Institutional Trading of Cameco

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in Cameco during the 2nd quarter valued at $212,908,000. Amundi boosted its holdings in Cameco by 13.7% in the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company’s stock valued at $304,773,000 after purchasing an additional 359,375 shares during the period. Temasek Holdings Private Ltd bought a new stake in Cameco in the 1st quarter valued at $70,851,000. Sumitomo Mitsui Trust Group Inc. grew its position in Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after purchasing an additional 139,592 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Cameco in the 2nd quarter worth $735,498,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.