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

Cameco (NYSE:CCJ) (TSE:CCO) had its price target lowered by Truist Financial from $130.00 to $125.00 in a report published on Thursday, Marketbeat.com reports. Truist Financial currently has a buy rating on the basic materials company’s stock.

CCJ has been the subject of a number of other research reports. Barclays decreased 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, October 19th. Jefferies Financial Group initiated coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 target price on the stock. Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Bank of America reduced their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Zacks Research downgraded Cameco from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.10.

Cameco Stock Down 0.4%

Cameco stock opened at $78.62 on Thursday. The business’s 50-day moving average price is $92.30 and its 200 day moving average price is $100.46. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The firm has a market cap of $34.24 billion, a price-to-earnings ratio of 133.26, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. Cameco has a 52 week low of $76.92 and a 52 week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts anticipate that Cameco will post 1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new stake in shares of Cameco during the first quarter worth $30,000. Brown Lisle Cummings Inc. raised its position in shares of Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. CX Institutional lifted its stake in shares of Cameco by 2,181.2% in the third quarter. CX Institutional now owns 365 shares of the basic materials company’s stock worth $32,000 after buying an additional 349 shares in the last quarter. Western Wealth Management LLC purchased a new position in shares of Cameco in the first quarter worth about $39,000. Finally, Dunhill Financial LLC purchased a new position in shares of Cameco in the second quarter worth about $39,000. 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.