Cameco (CCJ) Lowered to “Strong Sell” at Zacks Investment Research

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday.

According to Zacks, “Cameco Corporation is one of the world’s largest uranium producers, a significant supplier of conversion services and one of two CANDU fuel manufacturers in Canada. Their competitive position is based on their controlling ownership of the world’s largest high-grade reserves and low-cost operations. Their uranium products are used to generate clean electricity in nuclear power plants around the world. They also explore for uranium in the Americas, Australia and Asia. Their shares trade on the Toronto and New York stock exchanges. Their head office is in Saskatoon, Saskatchewan. “

CCJ has been the topic of a number of other reports. TheStreet downgraded Cameco from a “c” rating to a “d+” rating in a research report on Friday, October 27th. Royal Bank of Canada decreased their target price on Cameco from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.33.

Cameco (NYSE CCJ) traded down $0.21 during mid-day trading on Monday, reaching $8.90. The company had a trading volume of 2,729,644 shares, compared to its average volume of 2,350,000. Cameco has a fifty-two week low of $7.68 and a fifty-two week high of $12.37. The firm has a market capitalization of $3,530.00, a P/E ratio of -15.08, a PEG ratio of 8.43 and a beta of 1.21. The company has a current ratio of 5.40, a quick ratio of 2.16 and a debt-to-equity ratio of 0.30.

A number of hedge funds have recently added to or reduced their stakes in the stock. Colony Group LLC grew its position in Cameco by 4.6% during the second quarter. Colony Group LLC now owns 74,515 shares of the basic materials company’s stock worth $678,000 after buying an additional 3,265 shares in the last quarter. Commonwealth Equity Services Inc boosted its holdings in Cameco by 9.6% during the third quarter. Commonwealth Equity Services Inc now owns 64,302 shares of the basic materials company’s stock valued at $621,000 after purchasing an additional 5,620 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Cameco by 22.5% during the second quarter. Advisory Services Network LLC now owns 39,055 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 7,178 shares in the last quarter. HAP Trading LLC boosted its holdings in Cameco by 24.8% during the third quarter. HAP Trading LLC now owns 37,438 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 7,450 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in Cameco by 15.5% during the second quarter. Stifel Financial Corp now owns 60,526 shares of the basic materials company’s stock valued at $547,000 after purchasing an additional 8,131 shares in the last quarter. 50.78% of the stock is currently owned by institutional investors and hedge funds.

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About Cameco

Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.

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