Cameco (NYSE:CCJ) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a sell rating in a report published on Wednesday.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Sanford C. Bernstein initiated coverage on Cameco in a research note on Tuesday. They set an “outperform” rating and a $52.00 target price for the company. Stifel Nicolaus began coverage on Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Finally, Glj Research raised their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Price Performance

CCJ opened at $37.80 on Wednesday. Cameco has a 1 year low of $35.43 and a 1 year high of $62.55. The stock has a fifty day moving average price of $45.02 and a 200 day moving average price of $50.25. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 134.98 and a beta of 1.04.

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

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $188,595,000. FMR LLC lifted its position in Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares during the period. Driehaus Capital Management LLC lifted its holdings in Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock valued at $115,398,000 after buying an additional 1,225,966 shares during the period. Alliancebernstein L.P. boosted its stake in Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the last quarter. Finally, AGF Management Ltd. grew its holdings in Cameco by 54.2% during the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock worth $174,433,000 after acquiring an additional 1,193,266 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.