Cameco (NYSE:CCJ) Upgraded to “Hold” at Zacks Research

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other research firms also recently commented on CCJ. Jefferies Financial Group assumed coverage on shares of Cameco in a report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price objective for the company. Wall Street Zen cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Bank of America cut their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.38.

Cameco Stock Down 1.2%

NYSE CCJ opened at $71.67 on Tuesday. The business has a fifty day moving average price of $88.75 and a 200 day moving average price of $103.61. Cameco has a one year low of $69.55 and a one year high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 2.55. The company has a market cap of $31.21 billion, a P/E ratio of 87.42, a P/E/G ratio of 1.61 and a beta of 1.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new stake in shares of Cameco during the 1st quarter worth $30,000. CX Institutional grew 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 worth $32,000 after purchasing an additional 349 shares in the last quarter. Signature Equity Partners LLC increased its holdings in Cameco by 55.8% in the third quarter. Signature Equity Partners LLC now owns 444 shares of the basic materials company’s stock valued at $38,000 after buying an additional 159 shares during the last quarter. Western Wealth Management LLC purchased a new position in Cameco in the first quarter valued at $39,000. Finally, Trust Co. of Vermont purchased a new position in Cameco in the second quarter valued at $39,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.