Cameco (NYSE:CCJ) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a sell rating in a report published on Saturday.

Several other brokerages have also issued reports on CCJ. William Blair began coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating for the company. Truist Financial initiated coverage on shares of Cameco in a report on Monday, July 13th. They issued a “buy” rating and a $129.00 price target on 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 report on Monday, June 29th. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Finally, Bank of America lowered their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average price target of $145.60.

Cameco Price Performance

Cameco stock opened at $97.45 on Friday. Cameco has a 52 week low of $68.96 and a 52 week high of $135.24. The company’s 50 day moving average price is $97.63 and its two-hundred day moving average price is $109.11. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The stock has a market cap of $42.44 billion, a P/E ratio of 165.17, a P/E/G ratio of 1.55 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. On average, equities analysts predict that Cameco will post 1.36 earnings per share for the current year.

Institutional Trading of Cameco

Hedge funds have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd raised 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 acquiring an additional 307 shares during the period. Sterling Capital Management LLC bought a new stake in Cameco in the 1st quarter valued at about $30,000. Sunbelt Securities Inc. raised its stake in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Finally, Brown Lisle Cummings Inc. lifted its holdings 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 valued at $32,000 after purchasing an additional 288 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

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.