Cameco (NYSE:CCJ) Stock Rating Upgraded by Stifel Canada

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by research analysts at Stifel Canada to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on CCJ. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Tuesday. Glj Research lifted their price target on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Finally, Stifel Nicolaus began coverage on Cameco in a report on Wednesday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $73.64.

Cameco Stock Up 1.5 %

Shares of NYSE CCJ opened at $42.44 on Wednesday. The firm has a market cap of $18.47 billion, a P/E ratio of 151.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a 1 year low of $35.43 and a 1 year high of $62.55. The firm’s 50 day moving average price is $47.80 and its 200 day moving average price is $49.91.

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

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Cameco during the fourth quarter worth $188,595,000. FMR LLC raised its stake in shares of Cameco by 8.7% in 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 in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock worth $115,398,000 after purchasing an additional 1,225,966 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after buying an additional 1,196,336 shares during the last quarter. Finally, AGF Management Ltd. raised its stake in Cameco by 54.2% during the fourth quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock valued at $174,433,000 after buying an additional 1,193,266 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

About Cameco

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.