Zacks Research Downgrades Cameco (NYSE:CCJ) to Hold

by · The Markets Daily

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on CCJ. Glj Research reissued a “buy” rating and set a $171.20 price target (up previously from $100.00) on shares of Cameco in a research report on Wednesday. UBS Group assumed coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average price target of $143.03.

Read Our Latest Research Report on Cameco

Cameco Stock Down 0.5%

Shares of CCJ traded down $0.57 during trading hours on Wednesday, hitting $118.46. The company had a trading volume of 1,517,530 shares, compared to its average volume of 4,649,445. The firm has a fifty day moving average price of $108.19 and a 200-day moving average price of $92.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.85 and a current ratio of 2.47. The stock has a market capitalization of $51.59 billion, a price-to-earnings ratio of 121.95 and a beta of 0.99. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. Cameco’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities research analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bison Wealth LLC boosted its holdings in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC grew its position in Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Cameco by 8.1% during the second quarter. CWM LLC now owns 6,863 shares of the basic materials company’s stock valued at $509,000 after buying an additional 516 shares during the period. 70.21% of the stock is currently owned by institutional investors.

About Cameco

(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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