Cameco (NYSE:CCJ) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Cameco from “strong sell” to “hold.”
• Analyst views remain mixed, but the overall consensus is “Moderate Buy,” with an average price target of $147.38; some firms recently lowered their targets.
• Cameco shares fell 1.2% and opened at $71.67 on Tuesday. Institutional investors own 70.21% of the stock, with several large investors recently adding or initiating positions.

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

Several other brokerages also recently commented on CCJ. Barclays lowered their price objective on shares of Cameco from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Monday. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Wall Street Zen downgraded Cameco from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Citigroup reaffirmed a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group began coverage on Cameco in a report on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.38.

Cameco Stock Down 1.2%

Shares of NYSE:CCJ opened at $71.67 on Tuesday. The firm has a market capitalization of $31.21 billion, a PE ratio of 87.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 2.55. Cameco has a 52-week low of $69.55 and a 52-week high of $135.24. The firm has a fifty day moving average of $88.75 and a 200 day moving average of $103.61.

Institutional Investors Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of Cameco in the second quarter valued at about $212,908,000. Amundi increased its stake in shares of Cameco by 13.7% during the second quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock worth $304,773,000 after purchasing an additional 359,375 shares in the last quarter. Temasek Holdings Private Ltd acquired a new position in shares of Cameco during the 1st quarter worth about $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 worth $58,187,000 after purchasing an additional 139,592 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Cameco in the 2nd quarter valued at about $735,498,000. Institutional investors own 70.21% of the company's stock.

About Cameco

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco's principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.

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