StockNews.com Downgrades Cameco (NYSE:CCJ) to Sell

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Other research analysts also recently issued reports about the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Stifel Nicolaus started coverage on Cameco in a report on Wednesday, March 12th. They set a “buy” rating for the company. Sanford C. Bernstein initiated coverage on Cameco in a research report on Tuesday. They set an “outperform” rating and a $52.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Finally, Glj Research boosted their target price on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $70.03.

Cameco Stock Performance

Shares of Cameco stock traded up $0.69 during trading on Wednesday, reaching $42.49. The company’s stock had a trading volume of 2,361,488 shares, compared to its average volume of 4,099,128. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55. The firm has a market cap of $18.50 billion, a PE ratio of 151.75 and a beta of 1.04. The business’s 50-day moving average price is $45.70 and its 200-day moving average price is $50.33. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Equities analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Hedge funds have recently added to or reduced their stakes in the business. Old West Investment Management LLC lifted its holdings in shares of Cameco by 10.4% during the third quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock worth $13,472,000 after purchasing an additional 26,584 shares during the period. Cerity Partners LLC lifted its holdings in Cameco by 78.8% during the 3rd quarter. Cerity Partners LLC now owns 20,920 shares of the basic materials company’s stock worth $999,000 after buying an additional 9,222 shares during the period. Glenmede Trust Co. NA grew its position in shares of Cameco by 2.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after buying an additional 191 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Cameco by 16.1% in the third quarter. Public Sector Pension Investment Board now owns 68,359 shares of the basic materials company’s stock valued at $3,269,000 after buying an additional 9,489 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cameco by 11.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 706,755 shares of the basic materials company’s stock worth $33,755,000 after acquiring an additional 70,454 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.