Cameco (NYSE:CCJ) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities research analysts have also recently issued research reports about the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Finally, Glj Research lifted their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $73.64.

Cameco Price Performance

Shares of CCJ opened at $44.62 on Wednesday. The company has a market capitalization of $19.42 billion, a P/E ratio of 159.34 and a beta of 1.04. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $47.03 and a 200 day moving average of $50.01. Cameco has a twelve month low of $35.43 and a twelve month high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. As a group, equities research analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its position in shares of Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cameco by 1.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock valued at $865,729,000 after acquiring an additional 190,337 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cameco by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after acquiring an additional 270,102 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the last quarter. Finally, Norges Bank bought a new stake in Cameco in the 4th quarter valued at $188,595,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.