Paradigm Capital Initiates Coverage on Cameco (NYSE:CCJ)

Investment analysts at Paradigm Capital assumed coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a report released on Monday, Zacks reports. The brokerage set a “moderate buy” rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays reduced their price objective on shares of Cameco from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Monday, November 2nd. Zacks Research raised shares of Cameco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Jefferies Financial Group assumed coverage on Cameco in a report on Thursday, September 3rd. They set a “buy” rating and a $138.00 target price on the stock. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Truist Financial reduced their price target on Cameco from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $148.12.

Cameco Stock Performance

Shares of CCJ opened at $72.87 on Monday. The company’s fifty day moving average is $86.25 and its 200-day moving average is $102.67. Cameco has a 12 month low of $66.06 and a 12 month high of $135.24. The firm has a market cap of $31.74 billion, a price-to-earnings ratio of 110.42, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18. The company has a quick ratio of 1.62, a current ratio of 2.55 and a debt-to-equity ratio of 0.14.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its stake in Cameco by 0.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company’s stock valued at $1,540,000 after buying an additional 125 shares during the last quarter. Novem Group raised its holdings in Cameco by 5.1% in the 3rd quarter. Novem Group now owns 2,854 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 138 shares during the period. Bessemer Group Inc. lifted its position in Cameco by 9.3% during the 1st quarter. Bessemer Group Inc. now owns 1,763 shares of the basic materials company’s stock worth $192,000 after acquiring an additional 150 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Cameco by 4.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,227 shares of the basic materials company’s stock worth $329,000 after acquiring an additional 150 shares during the last quarter. Finally, Signature Equity Partners LLC lifted its position in Cameco by 55.8% during the 3rd quarter. Signature Equity Partners LLC now owns 444 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 159 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.