Cameco (NYSE:CCJ) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a sell rating to a hold rating in a report issued on Friday morning.

Cameco Stock Down 6.4 %

CCJ stock opened at $43.56 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a fifty day moving average of $51.00 and a 200-day moving average of $49.62. Cameco has a one year low of $35.43 and a one year high of $62.55. The stock has a market capitalization of $18.96 billion, a PE ratio of 229.25 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 4.15% and a return on equity of 3.33%. As a group, analysts expect that Cameco will post 0.42 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dantai Capital Ltd boosted its stake in shares of Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after acquiring an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC purchased a new position in Cameco in the 4th quarter valued at about $895,000. Whalen Wealth Management Inc. purchased a new stake in shares of Cameco during the fourth quarter worth about $445,000. iA Global Asset Management Inc. purchased a new stake in shares of Cameco during the third quarter worth about $5,305,000. Finally, Telemark Asset Management LLC raised its position in shares of Cameco by 8.3% in the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after buying an additional 100,000 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.