Canaccord Genuity analyst Gary Lampard came out with his views on Cameco Corporation (USA) (NYSE:CCJ), after the company reported its first-quarter earnings results, posting adjusted EPS of C$0.18, compared to Lampard’s estimate of C$0.20. The analyst rates CCJ a Buy with a C$23 price target.
Lampard noted, “We calculate adjusted EBITDA of C$134M, compared to our forecast of C$144M. Uranium production of 5.1mn lbs compared to our forecast of 6.1mn lbs; uranium sales of 7.0mn lbs compared to our forecast of 7.6mn lbs. Purchased uranium of 2.7mn lbs compared to our forecast of 1.5mn lbs.”
“Production was impacted by “several weeks of unplanned (Key Lake) mill maintenance to repair the existing calciner and related equipment. However, our planned annual production for the operation is unchanged.”, the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gary Lampard has a total average return of 2.1% and a 53.8% success rate. Lampard has a 12.3% average return when recommending CCJ, and is ranked #2141 out of 3584 analysts.