Cameco (NYSE:CCJ) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other research firms have also weighed in on CCJ. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. William Blair started coverage on Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. Bank of America decreased their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Barclays lowered their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and a consensus price target of $145.60.

Cameco Price Performance

Shares of CCJ opened at $97.39 on Friday. The business’s fifty day moving average is $97.94 and its 200 day moving average is $109.28. Cameco has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a quick ratio of 2.09, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The stock has a market cap of $42.42 billion, a P/E ratio of 165.06, a P/E/G ratio of 1.51 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Sell-side analysts anticipate that Cameco will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. increased its position in Cameco by 35.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after buying an additional 139,592 shares during the last quarter. Temasek Holdings Private Ltd purchased a new position in shares of Cameco during the 1st quarter valued at $70,851,000. WCM Investment Management LLC bought a new position in shares of Cameco during the 1st quarter worth $35,342,000. Amova Asset Management Americas Inc. grew its stake in shares of Cameco by 37.7% during the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock worth $56,788,000 after acquiring an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Cameco by 102.3% in the 1st quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock worth $16,883,000 after acquiring an additional 78,609 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

About Cameco

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.