Cameco (NYSE:CCJ) Coverage Initiated by Analysts at Desjardins

Desjardins started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued a buy rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein started coverage on shares of Cameco in a research report on Tuesday. They set an “outperform” rating and a $52.00 price objective for the company. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Finally, Stifel Nicolaus initiated coverage on Cameco in a report on Wednesday, March 12th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $70.03.

Cameco Stock Down 7.6 %

CCJ opened at $37.80 on Friday. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $45.02 and a two-hundred day simple moving average of $50.25. The company has a market capitalization of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently made changes to their positions in the business. Old West Investment Management LLC lifted its holdings in Cameco by 10.4% during the 3rd quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock valued at $13,472,000 after buying an additional 26,584 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Cameco by 69.2% during the third quarter. Captrust Financial Advisors now owns 48,690 shares of the basic materials company’s stock valued at $2,325,000 after acquiring an additional 19,921 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Cameco in the third quarter valued at approximately $337,000. Hilltop Holdings Inc. bought a new position in Cameco in the third quarter worth approximately $205,000. Finally, HighTower Advisors LLC increased its holdings in Cameco by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 617,538 shares of the basic materials company’s stock worth $29,519,000 after purchasing an additional 35,180 shares during the period. 70.21% of the stock is currently owned by institutional investors.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. 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.