Wall Street Zen Downgrades Cameco (NYSE:CCJ) to Sell

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

CCJ has been the topic of a number of other research reports. Barclays lowered their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Bank of America decreased their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Truist Financial started coverage on Cameco in a research note on Monday, July 13th. They issued a “buy” rating and a $129.00 price objective on the stock. Finally, Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. One equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.60.

Cameco Trading Down 0.0%

Cameco stock opened at $97.39 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The business’s 50-day simple moving average is $97.94 and its 200-day simple moving average is $109.23. The firm has a market capitalization of $42.42 billion, a PE ratio of 165.06, a PEG ratio of 1.55 and a beta of 1.05. Cameco has a 52 week low of $68.96 and a 52 week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period last year, the business earned $0.71 EPS. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. Equities research analysts forecast that Cameco will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of large investors have recently bought and sold shares of CCJ. Vanguard Group Inc. raised its position in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors grew its holdings in shares of Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after buying an additional 849,188 shares in the last quarter. Morgan Stanley increased its stake in shares of Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after buying an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cameco in the fourth quarter valued at $443,265,000. 70.21% of the stock is currently owned by institutional investors.

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.