StockNews.com Upgrades Cameco (NYSE:CCJ) to “Hold”

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

A number of other equities research analysts have also issued reports on CCJ. Sanford C. Bernstein initiated coverage on Cameco in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Desjardins initiated coverage on Cameco in a research report on Friday, April 4th. They issued a “buy” rating for the company. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus started coverage on Cameco in a report on Wednesday, March 12th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cameco has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Stock Performance

Shares of CCJ stock opened at $53.14 on Tuesday. The stock has a market cap of $23.13 billion, a PE ratio of 189.79 and a beta of 0.89. The business has a 50-day simple moving average of $43.32 and a 200-day simple moving average of $48.93. 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 52-week low of $35.00 and a 52-week high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same period in the previous year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts expect that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec lifted its stake in Cameco by 166.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 558,586 shares of the basic materials company’s stock worth $22,992,000 after purchasing an additional 349,292 shares in the last quarter. Bank of Hawaii lifted its stake in Cameco by 26.0% during the first quarter. Bank of Hawaii now owns 7,582 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 1,565 shares in the last quarter. Old West Investment Management LLC raised its stake in shares of Cameco by 2.0% in the first quarter. Old West Investment Management LLC now owns 295,250 shares of the basic materials company’s stock valued at $12,152,000 after acquiring an additional 5,671 shares in the last quarter. Freedom Investment Management Inc. raised its stake in shares of Cameco by 34.8% in the first quarter. Freedom Investment Management Inc. now owns 8,398 shares of the basic materials company’s stock valued at $346,000 after acquiring an additional 2,168 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of Cameco in the first quarter valued at $2,131,000. 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.