Cameco (NYSE:CCJ) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Cameco from “hold” to “sell,” although broader analyst sentiment remains “Moderate Buy,” with 13 Buy ratings, five Hold ratings, and a consensus price target of $148.68.
• Cameco shares opened at $91.81, down 1.1%, and remain below their 50-day and 200-day moving averages. The stock trades at a high price-to-earnings ratio of 155.61.
• The company’s latest quarterly results missed expectations: adjusted EPS was $0.13 versus a $0.26 estimate, while revenue fell 6.8% year over year to $573.06 million.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on CCJ. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Barclays cut their target price on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Sanford C. Bernstein restated an "outperform" rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Weiss Ratings downgraded shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Finally, Truist Financial lifted their price target on shares of Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.68.

Cameco Stock Down 1.1%

Shares of NYSE:CCJ opened at $91.81 on Friday. Cameco has a 1 year low of $77.70 and a 1 year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The business's 50-day moving average is $94.92 and its 200-day moving average is $104.86. The company has a market capitalization of $39.99 billion, a price-to-earnings ratio of 155.61, a P/E/G ratio of 1.59 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the business earned $0.71 EPS. The company's revenue for the quarter was down 6.8% on a year-over-year basis. Equities research analysts predict that Cameco will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of Cameco during the 2nd quarter valued at $212,908,000. Temasek Holdings Private Ltd bought a new position in Cameco in the 1st quarter worth about $70,851,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Cameco by 35.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock valued at $58,187,000 after buying an additional 139,592 shares in the last quarter. Amundi grew its holdings in Cameco by 13.7% during the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock valued at $304,773,000 after buying an additional 359,375 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Cameco by 74.6% during the second quarter. Royal London Asset Management Ltd. now owns 275,141 shares of the basic materials company's stock valued at $28,026,000 after buying an additional 117,592 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.

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