Cameco (NYSE:CCJ) Rating Increased to Hold at Barclays

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by stock analysts at Barclays to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

CCJ has been the topic of several other research reports. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings cut Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Trading Down 0.6%

NYSE:CCJ opened at $104.71 on Thursday. Cameco has a fifty-two week low of $55.11 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a market capitalization of $45.61 billion, a PE ratio of 96.96, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04. The business’s 50-day simple moving average is $113.20 and its 200-day simple moving average is $107.18.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the previous year, the business posted $0.16 EPS. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts expect that Cameco will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after purchasing an additional 110,629 shares during the period. NWF Advisory Services Inc. bought a new stake in Cameco in the 3rd quarter valued at $1,996,000. Allianz Asset Management GmbH boosted its stake in Cameco by 278.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock valued at $12,208,000 after purchasing an additional 106,987 shares during the period. Mediolanum International Funds Ltd boosted its stake in Cameco by 165.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock valued at $2,894,000 after purchasing an additional 21,361 shares during the period. Finally, Legal & General Group Plc boosted its stake in Cameco by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after purchasing an additional 108,841 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.