Desjardins Begins Coverage on Cameco (NYSE:CCJ)

Desjardins started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a report released on Friday, MarketBeat.com reports. The firm set a “buy” rating on the basic materials company’s stock.

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday, March 12th. They set a “buy” rating on the stock. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Glj Research upped their price objective on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. Finally, Sanford C. Bernstein began coverage on Cameco in a report on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Cameco presently has a consensus rating of “Buy” and an average price target of $70.03.

Cameco Stock Down 7.6 %

Shares of NYSE CCJ opened at $37.80 on Friday. Cameco has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The business has a fifty day moving average of $45.02 and a two-hundred day moving average of $50.32. The stock has a market cap of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04.

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

Hedge Funds Weigh In On Cameco

Several institutional investors have recently modified their holdings of CCJ. Larson Financial Group LLC raised its holdings in Cameco by 37.4% in the fourth quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP raised its position in shares of Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock worth $2,592,000 after purchasing an additional 238 shares during the period. Heritage Wealth Management Inc. lifted its holdings in shares of Cameco by 0.8% during the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after purchasing an additional 250 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Cameco by 48.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 267 shares during the period. Finally, EdgeRock Capital LLC lifted its stake in Cameco by 2.2% in the fourth quarter. EdgeRock Capital LLC now owns 13,986 shares of the basic materials company’s stock valued at $719,000 after buying an additional 297 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.