Cameco (CCJ) Upgraded by Zacks Investment Research to Hold

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

A number of other equities analysts have also commented on CCJ. TheStreet lowered shares of Cameco from a “c” rating to a “d+” rating in a report on Friday, October 27th. Royal Bank of Canada cut their price target on shares of Cameco from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.33.

Shares of Cameco (NYSE:CCJ) traded up $0.24 during trading hours on Tuesday, hitting $9.02. 3,040,979 shares of the stock were exchanged, compared to its average volume of 2,510,000. The firm has a market capitalization of $3,580.00, a price-to-earnings ratio of -22.00, a PEG ratio of 7.89 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. Cameco has a 52 week low of $7.68 and a 52 week high of $12.37.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $809.00 million for the quarter, compared to analyst estimates of $780.91 million. Cameco had a negative net margin of 9.72% and a positive return on equity of 1.23%. Cameco’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. research analysts anticipate that Cameco will post 0.17 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CCJ. Principal Financial Group Inc. acquired a new position in shares of Cameco during the second quarter worth $182,000. Alliancebernstein L.P. lifted its holdings in Cameco by 21.0% in the second quarter. Alliancebernstein L.P. now owns 59,974 shares of the basic materials company’s stock valued at $546,000 after buying an additional 10,397 shares during the period. Vanguard Group Inc. lifted its holdings in Cameco by 4.1% in the second quarter. Vanguard Group Inc. now owns 9,352,660 shares of the basic materials company’s stock valued at $85,108,000 after buying an additional 371,126 shares during the period. FMR LLC lifted its holdings in Cameco by 13.2% in the second quarter. FMR LLC now owns 307,902 shares of the basic materials company’s stock valued at $2,804,000 after buying an additional 35,902 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Cameco by 15.5% in the second quarter. Stifel Financial Corp now owns 60,526 shares of the basic materials company’s stock valued at $547,000 after buying an additional 8,131 shares during the period. Institutional investors own 50.27% of the company’s stock.

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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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