Cameco (NYSE:CCJ) Raised to “Strong-Buy” at Truist Financial

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by stock analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Barclays started coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price for the company. Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, William Blair started coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.52.

Cameco Stock Performance

NYSE CCJ opened at $91.68 on Monday. The stock has a fifty day simple moving average of $105.73 and a 200-day simple moving average of $110.91. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $39.93 billion, a PE ratio of 84.89, a P/E/G ratio of 1.59 and a beta of 1.02. Cameco has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same period in the previous year, the firm earned $0.16 EPS. Cameco’s revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Cameco will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Several large investors have recently bought and sold shares of CCJ. Norges Bank purchased a new stake in shares of Cameco during the fourth quarter worth approximately $443,265,000. Marshall Wace LLP lifted its holdings in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after buying an additional 1,104,378 shares during the last quarter. Man Group plc grew its position in Cameco by 126.3% in the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock valued at $142,455,000 after buying an additional 948,068 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in Cameco by 1,339.8% in the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock valued at $88,247,000 after buying an additional 897,558 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Trending Headlines about Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Some analysts remain constructive on Cameco, pointing to strong uranium production, diversification from Westinghouse and Fuel Services, and a high price target that implies meaningful upside. Cameco Q2 Preview: Earnings Could Restart The Nuclear Rally
• Neutral Sentiment: Coverage comparing Cameco with Energy Fuels argued that CCJ is a weaker uranium opportunity today, though the view was based more on relative fundamentals than a fresh company-specific event. UUUU vs. CCJ: Which Uranium Stock Offers the Better Opportunity Today?
• Neutral Sentiment: A Seeking Alpha article also argued that Wall Street may be paying too much for Cameco’s long-term nuclear growth story, adding to the debate around valuation rather than changing the underlying business outlook. Cameco: Wall Street Is Paying Too Much For A Nuclear Dream
• Negative Sentiment: Investor concern increased after Cameco’s temporary Cigar Lake mining suspension, which raised questions about near-term production reliability and helped push the stock lower. Cameco Falls as Investors Weigh Mine Disruption and Softer Uranium Sentiment
• Negative Sentiment: Unusual trading in CCJ put options suggests traders were positioning for more downside, reinforcing the cautious tone around the stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.