After Scotiabank and BMO Capital gave Cameco (NYSE: CCJ) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Brian MacArthur maintained a Buy rating on Cameco today and set a price target of C$13.00. The company’s shares closed last Tuesday at $7.64.
According to TipRanks.com, MacArthur has 0 stars on 0-5 star ranking scale with an average return of -5.9% and a 39.1% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties, Trevali Mining, and Centerra Gold.
Cameco has an analyst consensus of Moderate Buy, with a price target consensus of $9.02, a 20.6% upside from current levels. In a report issued on March 20, Scotiabank also upgraded the stock to Buy with a C$13.00 price target.
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Based on Cameco’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $874 million and net profit of $128 million. In comparison, last year the company earned revenue of $831 million and had a net profit of $160 million.
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Cameco Corp. engages in the provision of uranium. The company operates through the following segments: Uranium and Fuel Services. The Uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The Fuel Services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. Cameco was founded in 1988 and is headquartered in Saskatoon, Canada.
