Cameco (NYSE:CCJ) Upgraded at StockNews.com

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

Cameco Stock Performance

Cameco stock opened at $43.56 on Friday. 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 has a twelve month low of $35.43 and a twelve month high of $62.55. The company’s 50-day moving average price is $50.79 and its 200-day moving average price is $49.75. The company has a market cap of $18.96 billion, a PE ratio of 155.55 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.09 billion. On average, equities research analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jupiter Wealth Management LLC purchased a new stake in shares of Cameco during the fourth quarter valued at $514,000. Formidable Asset Management LLC lifted its holdings in Cameco by 13.4% during the fourth quarter. Formidable Asset Management LLC now owns 18,756 shares of the basic materials company’s stock valued at $964,000 after purchasing an additional 2,215 shares in the last quarter. WCG Wealth Advisors LLC boosted its holdings in Cameco by 2.7% in the 4th quarter. WCG Wealth Advisors LLC now owns 12,801 shares of the basic materials company’s stock worth $658,000 after buying an additional 331 shares during the last quarter. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Cameco by 276.4% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 20,400 shares of the basic materials company’s stock worth $1,048,000 after acquiring an additional 14,980 shares during the last quarter. Finally, JT Stratford LLC purchased a new stake in shares of Cameco during the fourth quarter worth approximately $205,000. 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.