Cameco (NYSE:CCJ) Cut to “Hold” at Zacks Research

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada upped their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Finally, Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Stock Performance

Cameco stock opened at $119.14 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.85. The firm has a market capitalization of $51.89 billion, a P/E ratio of 122.83 and a beta of 0.99. Cameco has a 1-year low of $35.00 and a 1-year high of $135.24. The company’s 50-day moving average is $108.19 and its 200 day moving average is $92.95.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts forecast that Cameco will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently added to or reduced their stakes in CCJ. Norges Bank bought a new position in Cameco in the fourth quarter worth about $443,265,000. TD Asset Management Inc grew its position in shares of Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Marshall Wace LLP lifted its position in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.