RBC Capital Mkts lifts Cameco Corporation [CCJ] price estimate. Who else is bullish?

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Cameco Corporation [NYSE: CCJ] gained 0.70% on the last trading session, reaching $23.12 price per share at the time. The company report on July 8, 2022 that Cameco Releases 2021 ESG Report.


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Cameco (TSX: CCO; NYSE: CCJ) released its 2021 Environmental, Social, Governance (ESG) Report today. The report illustrates Cameco’s integration of ESG principles and practices in its overall strategy and day-to-day operations, including 2021 performance metrics and feature stories highlighting the company’s ESG commitments and targets.

In this report, Cameco has incorporated the relevant ESG performance indicators issued by the Sustainability Accounting Standards Board (SASB) and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at www.cameco.com/esg.

Cameco Corporation represents 398.31 million in outstanding shares, while the company has a total market value of $9.54 billion with the latest information. CCJ stock price has been found in the range of $22.64 to $23.47.

If compared to the average trading volume of 6.56M shares, CCJ reached a trading volume of 8223849 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cameco Corporation [CCJ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCJ shares is $34.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCJ stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Cameco Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. The new note on the price target was released on March 31, 2022, representing the official price target for Cameco Corporation stock. Previously, the target price had yet another raise to $32, while BofA Securities analysts kept a Buy rating on CCJ stock.

The Average True Range (ATR) for Cameco Corporation is set at 1.13, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 7.76. The Price to Book ratio for the last quarter was 2.42, with the Price to Cash per share for the same quarter was set at 2.79. Price to Free Cash Flow for CCJ in the course of the last twelve months was 26.41 with Quick ratio for the last quarter at 4.10.

Trading performance analysis for CCJ stock

Cameco Corporation [CCJ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.36. With this latest performance, CCJ shares gained by 2.76% in over the last four-week period, additionally plugging by 15.31% over the last 6 months – not to mention a rise of 33.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCJ stock in for the last two-week period is set at 52.81, with the RSI for the last a single of trading hit 55.71, and the three-weeks RSI is set at 50.75 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 23.08, while it was recorded at 23.16 for the last single week of trading, and 24.18 for the last 200 days.

Cameco Corporation [CCJ]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cameco Corporation [CCJ] shares currently have an operating margin of -10.42 and a Gross Margin at -1.29. Cameco Corporation’s Net Margin is presently recorded at -6.95.

Return on Equity for this stock declined to -2.09, with Return on Assets sitting at -1.36.

Cameco Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 5.10.

An analysis of insider ownership at Cameco Corporation [CCJ]

There are presently around $4,908 million, or 70.10% of CCJ stock, in the hands of institutional investors. The top three institutional holders of CCJ stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 18,606,938, which is approximately 7.391% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 12,814,967 shares of the stock with an approximate value of $294.23 million in CCJ stocks shares; and WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, currently with $290.28 million in CCJ stock with ownership of nearly -5.755% of the company’s market capitalization.

Positions in Cameco Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 226 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 36,307,273 shares. Additionally, 201 investors decreased positions by around 81,134,473 shares, while 64 investors held positions by with 96,317,942 shares. The mentioned changes placed institutional holdings at 213,759,688 shares, according to the latest SEC report filing. CCJ stock had 97 new institutional investments in for a total of 5,016,332 shares, while 59 institutional investors sold positions of 47,670,845 shares during the same period.

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