Cameco (NYSE:CCJ) Now Covered by Analysts at Desjardins

Investment analysts at Desjardins started coverage on shares of Cameco (NYSE:CCJ - Get Free Report) TSE: CCO in a research note issued on Friday, Marketbeat.com reports. The firm set a "buy" rating on the basic materials company's stock.

A number of other equities analysts have also weighed in on CCJ. Royal Bank of Canada reiterated an "outperform" rating and issued a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. StockNews.com cut shares of Cameco from a "hold" rating to a "sell" rating in a report on Wednesday. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Stifel Nicolaus started coverage on shares of Cameco in a research report on Wednesday, March 12th. They issued a "buy" rating for the company. Finally, Glj Research lifted their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Cameco currently has an average rating of "Buy" and a consensus price target of $70.03.

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Cameco Price Performance

NYSE:CCJ traded down $3.12 during mid-day trading on Friday, reaching $37.80. 9,417,889 shares of the stock were exchanged, compared to its average volume of 4,107,877. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average price of $45.02 and a 200 day moving average price of $50.32. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55. The firm has a market capitalization of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after purchasing an additional 1,811,876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cameco by 1.1% during the fourth 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 acquiring an additional 190,337 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cameco by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company's stock valued at $862,997,000 after acquiring an additional 270,102 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the last quarter. Finally, Norges Bank bought a new stake in Cameco in the fourth quarter worth approximately $188,595,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.