Cameco (NYSE:CCJ) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Cameco from “hold” to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $148.68.
• Cameco’s shares opened at $93.06, while the company’s latest quarterly results missed expectations: earnings were $0.13 per share versus a $0.26 estimate, and revenue fell 6.8% year over year to $573.06 million.
• Institutional investors own approximately 70.21% of Cameco’s stock, with several hedge funds recently initiating or increasing positions.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday, Zacks reports.

A number of other brokerages have also weighed in on CCJ. Royal Bank Of Canada boosted their target price on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Weiss Ratings lowered Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Citigroup reissued a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Jefferies Financial Group started coverage on Cameco in a research note on Thursday, September 3rd. They set a "buy" rating and a $138.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cameco has a consensus rating of "Moderate Buy" and an average target price of $148.68.

Cameco Stock Up 6.4%

CCJ stock opened at $93.06 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco has a 1-year low of $77.70 and a 1-year high of $135.24. The stock has a market capitalization of $40.53 billion, a P/E ratio of 157.74, a P/E/G ratio of 1.78 and a beta of 1.17. The business has a fifty day moving average price of $94.99 and a 200-day moving average price of $102.60.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data 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). The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.Cameco's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts forecast that Cameco will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several hedge funds have recently bought and sold shares of CCJ. Congress Asset Management Co. bought a new position in shares of Cameco in the third quarter worth about $11,195,000. CX Institutional grew its stake in shares of Cameco by 2,181.2% during the 3rd quarter. CX Institutional now owns 365 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 349 shares during the period. Versant Capital Management Inc increased its holdings in Cameco by 18.9% in the 3rd quarter. Versant Capital Management Inc now owns 2,277 shares of the basic materials company's stock worth $197,000 after acquiring an additional 362 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Cameco in the 3rd quarter worth approximately $1,660,000. Finally, Bullseye Investment Management LLC bought a new stake in Cameco during the 2nd quarter worth approximately $136,000. Institutional investors own 70.21% of the company's stock.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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