Royal Bank of Canada Reaffirms “Outperform” Rating for Cameco (NYSE:CCJ)

Cameco (NYSE:CCJ) (TSE:CCO)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $90.00 price objective on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 109.38% from the company’s previous close.

Separately, StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $71.25.

Cameco Trading Up 2.6 %

Shares of Cameco stock opened at $42.99 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.71 billion, a price-to-earnings ratio of 153.52 and a beta of 0.94. The business has a fifty day simple moving average of $49.22 and a 200-day simple moving average of $49.95. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. On average, equities analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA lifted its position in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after buying an additional 191 shares during the period. Larson Financial Group LLC lifted its position in shares of Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after buying an additional 226 shares during the period. Two Sigma Investments LP lifted its position in shares of Cameco by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock worth $2,592,000 after buying an additional 238 shares during the period. Heritage Wealth Management Inc. lifted its position in shares of Cameco by 0.8% during the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock worth $1,587,000 after buying an additional 250 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Cameco by 48.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after buying an additional 267 shares during the period. 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.