Cameco (NYSE:CCJ) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a strong sell rating in a research report released on Monday,Zacks reports.

A number of other brokerages also recently issued reports on CCJ. Truist Financial upped their price objective on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays dropped their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Finally, Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.68.

Cameco Stock Performance

Cameco stock opened at $89.07 on Monday. The company’s 50-day moving average price is $95.09 and its 200-day moving average price is $102.48. Cameco has a twelve month low of $77.70 and a twelve month high of $135.24. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The company has a market cap of $38.79 billion, a PE ratio of 150.97, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business 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%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts forecast that Cameco will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC bought a new position in Cameco in the 1st quarter valued at $30,000. Brown Lisle Cummings Inc. lifted its position in shares of Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Cameco during the first quarter worth $39,000. CX Institutional boosted its stake in shares of Cameco by 2,181.2% during the third quarter. CX Institutional now owns 365 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 349 shares during the period. Finally, Copos Capital S.a r.l. purchased a new stake in shares of Cameco during the fourth quarter valued at $35,000. 70.21% of the stock is owned by institutional investors.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world’s major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company’s operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.