Zacks Investment Research Downgrades Cameco (NYSE:CCJ) to Hold

Zacks Investment Research lowered shares of Cameco (NYSE:CCJGet Rating) (TSE:CCO) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Cameco Corporation is one of the world’s largest uranium producers, a significant supplier of conversion services and one of two CANDU fuel manufacturers in Canada. Their competitive position is based on their controlling ownership of the world’s largest high-grade reserves and low-cost operations. Their uranium products are used to generate clean electricity in nuclear power plants around the world. They also explore for uranium in the Americas, Australia and Asia. Their shares trade on the Toronto and New York stock exchanges. Their head office is in Saskatoon, Saskatchewan. “

Several other equities research analysts also recently weighed in on CCJ. Canaccord Genuity Group upped their target price on shares of Cameco from $34.00 to $37.00 and gave the stock a buy rating in a research note on Thursday, February 10th. Raymond James upped their target price on shares of Cameco from C$40.00 to C$47.00 in a research note on Wednesday, April 20th. StockNews.com began coverage on shares of Cameco in a research report on Thursday, March 31st. They issued a sell rating on the stock. Scotiabank increased their price objective on shares of Cameco from C$40.00 to C$47.00 in a research report on Wednesday, April 13th. Finally, Royal Bank of Canada lowered their target price on shares of Cameco from C$50.00 to C$45.00 in a report on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $40.70.

Shares of CCJ stock opened at $20.25 on Wednesday. The firm’s 50 day moving average price is $27.40 and its 200-day moving average price is $24.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.19 and a current ratio of 5.18. Cameco has a one year low of $15.34 and a one year high of $32.49. The firm has a market cap of $8.07 billion, a P/E ratio of -183.35 and a beta of 0.88.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last issued its quarterly earnings data on Wednesday, February 9th. The basic materials company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. Cameco had a negative net margin of 3.72% and a negative return on equity of 1.08%. The firm had revenue of $368.91 million for the quarter. During the same quarter in the prior year, the company posted $0.09 earnings per share. As a group, research analysts predict that Cameco will post 0.1 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Ensign Peak Advisors Inc grew its holdings in shares of Cameco by 2.4% during the third quarter. Ensign Peak Advisors Inc now owns 17,100 shares of the basic materials company’s stock worth $371,000 after buying an additional 400 shares in the last quarter. Merrion Investment Management Co LLC grew its holdings in shares of Cameco by 0.3% during the fourth quarter. Merrion Investment Management Co LLC now owns 204,100 shares of the basic materials company’s stock worth $4,451,000 after buying an additional 600 shares in the last quarter. Pacifica Partners Inc. grew its holdings in shares of Cameco by 1.1% during the first quarter. Pacifica Partners Inc. now owns 60,300 shares of the basic materials company’s stock worth $1,491,000 after buying an additional 640 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Cameco by 92.9% during the first quarter. JFS Wealth Advisors LLC now owns 1,686 shares of the basic materials company’s stock worth $49,000 after buying an additional 812 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Cameco by 26.9% during the fourth quarter. Quadrant Capital Group LLC now owns 4,324 shares of the basic materials company’s stock worth $94,000 after buying an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 57.95% of the company’s stock.

Cameco Company Profile (Get Rating)

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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.

Further Reading

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