Cameco (NYSE:CCJ) Stock Price Target Lowered at Truist Financial

Cameco (NYSE:CCJ) (TSE:CCO) had its target price reduced by analysts at Truist Financial from $130.00 to $125.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Truist Financial’s price target would suggest a potential upside of 52.45% from the company’s current price.

Several other research firms have also weighed in on CCJ. Barclays reduced their price objective on shares of Cameco from $97.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank Of Canada boosted their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Weiss Ratings upgraded shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Jefferies Financial Group assumed coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 target price for the company. Finally, Zacks Research cut shares of Cameco from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.10.

Cameco Trading Up 1.8%

Shares of CCJ stock opened at $81.99 on Thursday. The stock has a 50-day simple moving average of $93.06 and a 200 day simple moving average of $100.85. Cameco has a fifty-two week low of $77.70 and a fifty-two week high of $135.24. The stock has a market capitalization of $35.71 billion, a P/E ratio of 138.97, a P/E/G ratio of 1.64 and a beta of 1.17. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%. The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same quarter last year, the firm posted $0.71 earnings per share. Cameco’s revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Cameco will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently bought and sold shares of CCJ. Crescent Grove Advisors LLC purchased a new stake in Cameco during the third quarter valued at about $386,000. Foster Victor Wealth Advisors LLC increased its position in shares of Cameco by 19.5% in the third quarter. Foster Victor Wealth Advisors LLC now owns 130,903 shares of the basic materials company’s stock worth $10,564,000 after acquiring an additional 21,370 shares in the last quarter. Skylands Capital LLC purchased a new position in shares of Cameco in the third quarter worth approximately $61,000. Carnegie Investment Counsel increased its position in shares of Cameco by 12.5% in the third quarter. Carnegie Investment Counsel now owns 3,439 shares of the basic materials company’s stock worth $298,000 after acquiring an additional 382 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its position in shares of Cameco by 41.8% in the third quarter. Prime Capital Investment Advisors LLC now owns 3,329 shares of the basic materials company’s stock worth $288,000 after acquiring an additional 981 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.