Wall Street Zen Upgrades Cameco (NYSE:CCJ) to Hold

Key Points

• Wall Street Zen upgraded Cameco from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with 14 buy ratings, five holds, and an average price target of $145.09.
• Cameco shares opened at $100.81, with a 52-week range of $74.63 to $135.24 and a market capitalization of approximately $43.91 billion.
• The company’s latest quarterly results fell short of expectations: EPS was $0.13 versus the $0.26 consensus estimate, while revenue declined 6.8% year over year to $573.06 million. Institutional investors own approximately 70.21% of Cameco’s stock.

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

Several other analysts have also commented on CCJ. Truist Financial lifted their price objective on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Weiss Ratings downgraded Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Royal Bank Of Canada boosted their price target on Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Jefferies Financial Group began coverage on shares of Cameco in a research report on Thursday. They set a "buy" rating and a $138.00 price target for the company. Finally, Barclays lowered their price objective 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. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.09.

Cameco Stock Up 0.2%

Shares of Cameco stock opened at $100.81 on Friday. Cameco has a twelve month low of $74.63 and a twelve month high of $135.24. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $95.25 and its 200 day moving average is $106.41. The company has a market cap of $43.91 billion, a price-to-earnings ratio of 170.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The company 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%.The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.71 EPS. Research analysts anticipate that Cameco will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE purchased a new stake in shares of Cameco during the second quarter worth about $735,498,000. Norges Bank purchased a new position in Cameco during the fourth quarter valued at $443,265,000. Canada Pension Plan Investment Board bought a new stake in Cameco in the 2nd quarter valued at $420,346,000. BlackRock Inc. bought a new stake in Cameco in the 2nd quarter valued at $381,091,000. Finally, Cibc World Market Inc. purchased a new stake in Cameco in the 2nd quarter worth $354,022,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

About Cameco

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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