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

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,Wall Street Zen reports.

A number of other research firms have also recently weighed in on CCJ. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Jefferies Financial Group assumed coverage on Cameco in a research note on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target for the company. Barclays decreased their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings downgraded Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.68.

Cameco Trading Down 1.1%

Cameco stock opened at $91.81 on Friday. The firm has a 50 day moving average of $94.92 and a 200 day moving average of $104.86. The firm has a market capitalization of $39.99 billion, a price-to-earnings ratio of 155.61, a P/E/G ratio of 1.57 and a beta of 1.06. Cameco has a 12-month low of $77.70 and a 12-month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results 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). The firm had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. As a group, research analysts predict that Cameco will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Bullseye Investment Management LLC purchased a new position in shares of Cameco during the second quarter valued at about $136,000. Sequoia Financial Advisors LLC lifted its position in shares of Cameco by 14.3% in the second quarter. Sequoia Financial Advisors LLC now owns 106,825 shares of the basic materials company’s stock worth $10,881,000 after buying an additional 13,399 shares in the last quarter. Gemmer Asset Management LLC lifted its position in shares of Cameco by 11.5% in the second quarter. Gemmer Asset Management LLC now owns 12,906 shares of the basic materials company’s stock worth $1,315,000 after buying an additional 1,327 shares in the last quarter. SailingStone Capital Partners LLC lifted its position in shares of Cameco by 0.5% in the second quarter. SailingStone Capital Partners LLC now owns 73,227 shares of the basic materials company’s stock worth $7,459,000 after buying an additional 392 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Cameco by 30.9% during the second quarter. WINTON GROUP Ltd now owns 140,300 shares of the basic materials company’s stock valued at $14,291,000 after buying an additional 33,153 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.