Cameco (NYSE:CCJ) Raised to Hold at Wall Street Zen

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on CCJ. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group assumed coverage on Cameco in a report on Thursday. They issued a “buy” rating and a $138.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.09.

Cameco Price Performance

Cameco stock opened at $100.81 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The business has a 50 day simple moving average of $95.25 and a 200-day simple moving average of $106.36. Cameco has a 12 month low of $74.63 and a 12 month high of $135.24. The stock has a market capitalization of $43.91 billion, a PE ratio of 170.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter last year, the business earned $0.71 earnings per share. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Equities analysts predict that Cameco will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco in the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 307 shares in the last quarter. Sterling Capital Management LLC acquired a new position in Cameco during the first quarter worth $30,000. Sunbelt Securities Inc. raised its holdings in Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Finally, Brown Lisle Cummings Inc. boosted its position in Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.