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

Key Points

• Cameco was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting changing investor sentiment.
• Despite the downgrade, other analysts maintain a positive outlook with a consensus rating of "buy" and a target price of $83.32.
• Cameco reported earnings of $0.51 EPS for the previous quarter, significantly exceeding analyst expectations of $0.29, although revenue fell short of projections.

Wall Street Zen downgraded shares of Cameco (NYSE:CCJ - Free Report) TSE: CCO from a buy rating to a hold rating in a research note published on Saturday.

Several other equities research analysts have also recently weighed in on the company. Glj Research reiterated a "buy" rating and issued a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, August 5th. National Bankshares reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Finally, Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to MarketBeat, Cameco presently has an average rating of "Buy" and a consensus target price of $83.32.

Cameco Stock Up 2.0%

Shares of CCJ stock traded up $1.48 during mid-day trading on Friday, hitting $76.90. The stock had a trading volume of 2,172,862 shares, compared to its average volume of 4,722,742. Cameco has a 12-month low of $35.00 and a 12-month high of $83.02. The firm has a market capitalization of $33.48 billion, a P/E ratio of 88.09 and a beta of 1.04. The firm's 50-day moving average is $75.43 and its two-hundred day moving average is $58.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business 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 business earned $0.14 EPS. The business's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. On average, analysts predict that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Cameco by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company's stock valued at $1,304,504,000 after buying an additional 481,171 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cameco by 1.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after buying an additional 190,337 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after purchasing an additional 3,959,837 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the period. Finally, Norges Bank acquired a new position in shares of Cameco in the second quarter valued at about $341,736,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

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.