Cameco (NYSE:CCJ) Raised to “Hold” at Barclays

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by investment analysts at Barclays to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

CCJ has been the topic of several other reports. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Canadian Imperial Bank of Commerce boosted their target price on Cameco to $202.00 in a research note on Monday, March 9th. Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada upped their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Stock Performance

NYSE:CCJ opened at $104.71 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The business has a 50 day moving average of $113.20 and a 200 day moving average of $107.18. The company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 96.96, a PEG ratio of 1.78 and a beta of 1.04. Cameco has a 1-year low of $55.11 and a 1-year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, sell-side analysts predict that Cameco will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors lifted its holdings in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after acquiring an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after acquiring an additional 85,762 shares during the period. Van ECK Associates Corp lifted its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after acquiring an additional 849,188 shares during the period. Finally, Morgan Stanley lifted its holdings in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after acquiring an additional 323,693 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.