RBC Capital Mkts slashes price target on Cameco Corporation [CCJ] – find out why.


Cameco Corporation [NYSE: CCJ] closed the trading session at $25.17 on 08/02/22. The day’s price range saw the stock hit a low of $24.57, while the highest price level was $25.53. The company report on July 27, 2022 that Cameco Announces Second Quarter Results, Continued Disciplined Execution of Strategy; Well-Positioned as Multi-Asset Nuclear Fuel Supplier Across the Fuel Cycle.

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Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the second quarter ended June 30, 2022 in accordance with International Financial Reporting Standards (IFRS).

“Our results reflect the very deliberate execution of our strategy of full-cycle value capture. And, we are benefiting from higher average realized prices in both our uranium sales and our fuel services sales as the market continues to transition and geopolitics continue to highlight concentration of supply concerns,” said Tim Gitzel, Cameco’s president and CEO.

The stocks have a year to date performance of 15.41 percent and weekly performance of 8.87 percent. The stock has been moved at 29.54 percent over the last six months. The stock has performed 15.35 percent around the most recent 30 days and changed -1.10 percent over the most recent 3-months.

If compared to the average trading volume of 6.56M shares, CCJ reached to a volume of 4925600 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 1.14, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 7.02. The Price to Book ratio for the last quarter was 2.61, with the Price to Cash per share for the same quarter was set at 2.87. Price to Free Cash Flow for CCJ in the course of the last twelve months was 31.22 with Quick ratio for the last quarter at 4.80.

CCJ stock trade performance evaluation

Cameco Corporation [CCJ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.87. With this latest performance, CCJ shares gained by 15.35% in over the last four-week period, additionally plugging by 29.54% over the last 6 months – not to mention a rise of 44.41% 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 60.37, with the RSI for the last a single of trading hit 63.96, and the three-weeks RSI is set at 57.01 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 23.33, while it was recorded at 25.29 for the last single week of trading, and 24.22 for the last 200 days.

Cameco Corporation [CCJ]: An insightful look at the core fundamentals

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 4.80 and a Current Ratio set at 6.00.

Cameco Corporation [CCJ]: Insider Ownership positions

There are presently around $5,363 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 $322.55 million in CCJ stocks shares; and WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, currently with $318.22 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 222 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 35,739,159 shares. Additionally, 217 investors decreased positions by around 80,695,834 shares, while 56 investors held positions by with 96,655,977 shares. The mentioned changes placed institutional holdings at 213,090,970 shares, according to the latest SEC report filing. CCJ stock had 97 new institutional investments in for a total of 5,038,590 shares, while 69 institutional investors sold positions of 48,158,596 shares during the same period.