Cameco (NYSE:CCJ) Downgraded to Hold at Cantor Fitzgerald

Cantor Fitzgerald cut shares of Cameco (NYSE:CCJ) (TSE:CCO) from a buy rating to a hold rating in a research report sent to investors on Tuesday, FlyOnTheWall reports.

Other research analysts also recently issued research reports about the stock. StockNews.com assumed coverage on shares of Cameco in a research note on Thursday, August 17th. They set a sell rating for the company. Scotiabank cut their price target on shares of Cameco from C$50.00 to C$49.00 in a research note on Wednesday, June 28th. Raymond James boosted their price objective on shares of Cameco from C$50.00 to C$52.00 and gave the company an outperform rating in a research note on Thursday, August 3rd. Finally, TD Securities lifted their target price on Cameco from C$51.00 to C$55.00 and gave the company an action list buy rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $54.20.

Cameco Price Performance

Shares of NYSE CCJ opened at $37.14 on Tuesday. The company has a current ratio of 3.64, a quick ratio of 3.00 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $33.64 and its 200 day moving average price is $29.59. Cameco has a 52 week low of $21.02 and a 52 week high of $37.88. The stock has a market cap of $16.09 billion, a price-to-earnings ratio of 247.60, a PEG ratio of 0.83 and a beta of 1.00.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.17). The company had revenue of $482.00 million during the quarter, compared to analysts’ expectations of $636.37 million. Cameco had a net margin of 4.67% and a return on equity of 2.74%. The firm’s revenue was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, research analysts forecast that Cameco will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors lifted its position in shares of Cameco by 402.0% during the first quarter. Capital World Investors now owns 10,131,797 shares of the basic materials company’s stock worth $295,084,000 after purchasing an additional 8,113,385 shares during the last quarter. FMR LLC grew its position in shares of Cameco by 44.1% during the 1st quarter. FMR LLC now owns 21,302,221 shares of the basic materials company’s stock valued at $557,732,000 after buying an additional 6,521,454 shares during the last quarter. FIL Ltd acquired a new stake in Cameco during the first quarter worth about $168,002,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cameco by 37.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company’s stock worth $497,555,000 after acquiring an additional 4,644,453 shares during the last quarter. Finally, Perpetual Ltd bought a new position in shares of Cameco during the first quarter valued at approximately $117,233,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, 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.