Cameco’s (CCJ) Hold Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their hold rating on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note released on Thursday morning, The Fly reports. Royal Bank of Canada currently has a $14.00 price objective on the basic materials company’s stock, down from their previous price objective of $15.00.

Other research analysts have also recently issued research reports about the stock. CIBC raised shares of Cameco from a neutral rating to an outperform rating in a report on Wednesday, April 1st. ValuEngine cut shares of Cameco from a buy rating to a hold rating in a report on Friday, May 1st. TD Securities raised shares of Cameco from a hold rating to a buy rating in a report on Monday, May 4th. BMO Capital Markets raised their target price on shares of Cameco from $12.00 to $16.00 and gave the stock an outperform rating in a report on Tuesday, May 5th. Finally, Zacks Investment Research raised shares of Cameco from a hold rating to a strong-buy rating and set a $13.00 target price for the company in a report on Friday, July 17th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cameco has an average rating of Buy and an average price target of $13.92.

NYSE CCJ opened at $10.16 on Thursday. The company has a fifty day simple moving average of $10.69 and a two-hundred day simple moving average of $9.42. The stock has a market cap of $4.02 billion, a P/E ratio of 112.89 and a beta of 0.90. Cameco has a 12-month low of $5.30 and a 12-month high of $12.33. The company has a current ratio of 5.44, a quick ratio of 4.56 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.11). The company had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $414.76 million. Cameco had a return on equity of 1.21% and a net margin of 2.26%. The company’s quarterly revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. As a group, sell-side analysts forecast that Cameco will post -0.04 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. APG Asset Management N.V. acquired a new stake in Cameco during the first quarter valued at $1,582,000. PNC Financial Services Group Inc. grew its position in Cameco by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 162,902 shares of the basic materials company’s stock valued at $1,244,000 after buying an additional 1,965 shares during the period. JPMorgan Chase & Co. grew its position in Cameco by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 1,141,795 shares of the basic materials company’s stock valued at $8,723,000 after buying an additional 8,360 shares during the period. Swiss National Bank grew its position in Cameco by 11.7% during the first quarter. Swiss National Bank now owns 1,552,200 shares of the basic materials company’s stock valued at $11,625,000 after buying an additional 162,200 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Cameco during the first quarter valued at $243,000. Institutional investors own 56.03% of the company’s stock.

Cameco Company Profile

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.

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Analyst Recommendations for Cameco (NYSE:CCJ)

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