Cameco (NYSE:CCJ) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Cameco (NYSE:CCJ – Free Report) (TSE:CCO) from a sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada increased their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Weiss Ratings downgraded Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Bank of America reduced their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Barclays lowered their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.09.

Get Our Latest Analysis on CCJ

Cameco Trading Up 0.1%

CCJ opened at $100.81 on Friday. 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 price-to-earnings ratio of 170.86, a PEG ratio of 1.72 and a beta of 1.06. 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 fifty day moving average price of $95.20 and a 200 day moving average price of $106.28.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The firm had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. Sell-side analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in Cameco during the second quarter valued at approximately $735,498,000. Norges Bank acquired a new position in shares of Cameco in the fourth quarter worth about $443,265,000. Canada Pension Plan Investment Board acquired a new position in shares of Cameco in the second quarter worth about $420,346,000. BlackRock Inc. purchased a new position in Cameco in the second quarter valued at about $381,091,000. Finally, Cibc World Market Inc. acquired a new stake in Cameco during the 2nd quarter valued at approximately $354,022,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

(Get Free Report)

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.

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