Cameco (NYSE:CCJ) Now Covered by Analysts at Paradigm Capital

Analysts at Paradigm Capital assumed coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note issued on Monday, Zacks reports. The firm set a “moderate buy” rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. Truist Financial reduced their price objective on Cameco from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Citigroup reaffirmed a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Zacks Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Jefferies Financial Group initiated coverage on Cameco in a report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 target price on the stock. Finally, Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.12.

Cameco Stock Performance

Shares of CCJ stock opened at $72.87 on Monday. Cameco has a 1-year low of $66.06 and a 1-year high of $135.24. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $31.74 billion, a price-to-earnings ratio of 110.42, a P/E/G ratio of 1.83 and a beta of 1.18. The stock’s fifty day simple moving average is $86.25 and its 200-day simple moving average is $102.67.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently modified their holdings of CCJ. Bank of America Corp DE acquired a new stake in Cameco during the second quarter valued at $735,498,000. Alps Advisors Inc. increased its position in Cameco by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 4,701,559 shares of the basic materials company’s stock worth $407,484,000 after purchasing an additional 1,154,270 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Cameco during the 2nd quarter worth about $420,346,000. Keybank National Association OH purchased a new stake in shares of Cameco during the 3rd quarter worth about $352,276,000. Finally, BlackRock Inc. purchased a new stake in shares of Cameco during the 2nd quarter worth about $381,091,000. 70.21% of the stock is owned by institutional investors and hedge funds.

About Cameco

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.