Cameco (NYSE:CCJ) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the stock. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Truist Financial raised their target price on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price target on shares of Cameco in a research report on Monday, June 15th. Finally, Bank of America cut their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.68.

Cameco Stock Up 1.9%

Shares of NYSE:CCJ opened at $93.39 on Friday. Cameco has a 1 year low of $77.70 and a 1 year high of $135.24. The company has a market capitalization of $40.67 billion, a PE ratio of 158.29, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The business has a fifty day moving average price of $94.98 and a two-hundred day moving average price of $104.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new position in Cameco in the 1st quarter worth $30,000. Brown Lisle Cummings Inc. lifted its stake in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Cameco during the 1st quarter valued at about $39,000. Copos Capital S.a r.l. bought a new position in Cameco during the 4th quarter worth approximately $35,000. Finally, Trust Co. of Vermont purchased a new position in Cameco in the 2nd quarter worth approximately $39,000. 70.21% of the stock is currently owned by institutional investors.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.