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

Key Points

• Wall Street Zen downgraded Cameco from “hold” to “sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $145.60.
• Cameco’s shares opened at $97.39, while the stock recently traded up 4.0%. The company reported quarterly EPS of $0.13, missing estimates of $0.26, and revenue fell 6.8% year over year to $573.06 million.
• Institutional investors own 70.21% of Cameco’s shares, and several hedge funds recently increased or initiated positions despite the mixed earnings results.

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

Other analysts also recently issued research reports about the company. Truist Financial initiated coverage on Cameco in a research report on Monday, July 13th. They set a "buy" rating and a $129.00 price target for the company. Weiss Ratings cut shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. William Blair assumed coverage on shares of Cameco in a research note on Monday, April 20th. They issued an "outperform" rating for the company. Finally, Scotiabank reissued an "outperform" rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cameco presently has a consensus rating of "Moderate Buy" and an average price target of $145.60.

Cameco Trading Up 4.0%

Shares of CCJ stock opened at $97.39 on Friday. The company has a market capitalization of $42.42 billion, a PE ratio of 165.06, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. Cameco has a 52-week low of $68.96 and a 52-week high of $135.24. The business's fifty day moving average is $97.94 and its 200 day moving average is $109.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.06.

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 the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analysts' expectations 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 firm earned $0.71 earnings per share. On average, equities research analysts anticipate that Cameco will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of large investors have recently modified their holdings of the company. Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its position in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 307 shares during the last quarter. Sterling Capital Management LLC purchased a new position in shares of Cameco during the first quarter worth approximately $30,000. Sunbelt Securities Inc. raised its stake in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock worth $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after acquiring an additional 288 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

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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