Bernstein Sticks to Its Buy Rating for Cameco (CCJ)

Bernstein analyst Bob Brackett maintained a Buy rating on Cameco today and set a price target of $98.00. The company’s shares opened today at $87.15.

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According to TipRanks, Brackett is a 4-star analyst with an average return of 13.2% and a 61.75% success rate. Brackett covers the Basic Materials sector, focusing on stocks such as Freeport-McMoRan, Barrick Mining, and Antofagasta.

Cameco has an analyst consensus of Strong Buy, with a price target consensus of $88.30, representing a 1.32% upside. In a report released on October 3, Goldman Sachs also reiterated a Buy rating on the stock with a $95.00 price target.

Based on Cameco’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $877.02 million and a net profit of $320.89 million. In comparison, last year the company earned a revenue of $598.46 million and had a net profit of $36.01 million

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCJ in relation to earlier this year.