Cameco (NYSE:CCJ) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on CCJ. Truist Financial increased their price target on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Bank of America dropped their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.09.

Cameco Trading Up 0.2%

NYSE:CCJ opened at $100.81 on Friday. The company has a market capitalization of $43.91 billion, a PE ratio of 170.86, a P/E/G ratio of 1.72 and a beta of 1.06. Cameco has a 52-week low of $74.63 and a 52-week high of $135.24. The stock’s 50 day moving average price is $95.25 and its 200 day moving average price is $106.41. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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%. Cameco’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, research analysts anticipate that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new position in Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cameco by 30,700.0% during 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 in the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Cameco in the first quarter worth about $30,000. Sunbelt Securities Inc. boosted its holdings in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares during the period. Finally, Brown Lisle Cummings Inc. boosted its stake in shares of Cameco by 3,200.0% in 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 period. 70.21% of the stock is currently owned by hedge funds and other 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.