StockNews.com Downgrades Cameco (NYSE:CCJ) to Sell

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday.

Several other brokerages have also issued reports on CCJ. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus assumed coverage on Cameco in a report on Wednesday, March 12th. They set a "buy" rating on the stock. Sanford C. Bernstein assumed coverage on Cameco in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 target price for the company. Finally, Glj Research lifted their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Cameco currently has an average rating of "Buy" and an average target price of $70.03.

Remove Ads

Cameco Price Performance

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

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

Institutional Investors Weigh In On Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Old West Investment Management LLC grew its stake in shares of Cameco by 10.4% in the third quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company's stock worth $13,472,000 after purchasing an additional 26,584 shares during the last quarter. Cerity Partners LLC grew its position in shares of Cameco by 78.8% in the 3rd quarter. Cerity Partners LLC now owns 20,920 shares of the basic materials company's stock worth $999,000 after buying an additional 9,222 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company's stock valued at $437,000 after buying an additional 191 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Cameco by 16.1% during the third quarter. Public Sector Pension Investment Board now owns 68,359 shares of the basic materials company's stock valued at $3,269,000 after acquiring an additional 9,489 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cameco by 11.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 706,755 shares of the basic materials company's stock worth $33,755,000 after acquiring an additional 70,454 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

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.