Cameco (NYSE:CCJ) Lowered to “Hold” Rating by TD Securities

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

CCJ has been the subject of several other research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Glj Research restated a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Finally, Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and an average price target of $150.40.

Cameco Price Performance

CCJ opened at $104.60 on Thursday. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a 50 day moving average of $116.66 and a two-hundred day moving average of $99.55. The company has a market cap of $45.56 billion, a P/E ratio of 107.84 and a beta of 0.98. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that Cameco will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of CCJ. Abbington Investment Group acquired a new position in shares of Cameco in the 3rd quarter valued at about $6,506,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Cameco by 79.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock worth $20,964,000 after acquiring an additional 110,629 shares during the period. NWF Advisory Services Inc. bought a new position in Cameco in the third quarter worth about $1,996,000. Thames Capital Management LLC lifted its holdings in Cameco by 66.8% in the third quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock worth $8,978,000 after acquiring an additional 42,879 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Cameco by 7.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,755,802 shares of the basic materials company’s stock valued at $231,102,000 after acquiring an additional 202,279 shares during the period. 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.