Cameco (NYSE:CCJ) Lowered to Hold Rating by Wall Street Zen

Key Points

• Cameco has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Despite the downgrade, the stock maintains a consensus rating of "Buy" with an average target price of $89.55, supported by multiple brokerages still issuing buy ratings.
• Cameco reported a quarterly earnings per share (EPS) of $0.51, which surpassed the consensus estimate, and indicated a significant year-over-year revenue growth of 46.7%.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other brokerages have also recently issued reports on CCJ. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. The Goldman Sachs Group increased their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Glj Research reiterated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Trading Down 2.3%

Shares of NYSE CCJ opened at $78.07 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. Cameco has a 52-week low of $35.00 and a 52-week high of $83.02. The firm has a 50 day moving average price of $76.21 and a two-hundred day moving average price of $60.12. The stock has a market cap of $33.99 billion, a P/E ratio of 89.74 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period in the prior year, the company posted $0.14 EPS. The company's revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Cameco will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

Large investors have recently modified their holdings of the business. Bison Wealth LLC grew its stake in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after acquiring an additional 2,975 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Cameco by 4.3% during the 4th quarter. Quantinno Capital Management LP now owns 82,483 shares of the basic materials company's stock valued at $4,239,000 after buying an additional 3,371 shares during the last quarter. Shell Asset Management Co. bought a new stake in Cameco during the 4th quarter valued at $185,000. Snowden Capital Advisors LLC increased its position in Cameco by 125.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 16,697 shares of the basic materials company's stock valued at $858,000 after purchasing an additional 9,295 shares during the period. Finally, Tidal Investments LLC increased its position in Cameco by 44.7% during the 4th quarter. Tidal Investments LLC now owns 36,736 shares of the basic materials company's stock valued at $1,888,000 after purchasing an additional 11,340 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

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.

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