Cameco (NYSE:CCJ) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a sell rating in a report released on Wednesday morning.

CCJ has been the subject of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Glj Research boosted their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating for the company. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Finally, Sanford C. Bernstein began coverage on Cameco in a report on Tuesday. They set an “outperform” rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Stock Performance

Cameco stock opened at $42.49 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a market cap of $18.50 billion, a P/E ratio of 151.75 and a beta of 1.04. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The firm’s 50 day simple moving average is $45.70 and its 200-day simple moving average is $50.33.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. As a group, equities research analysts predict that Cameco will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

Institutional investors have recently bought and sold shares of the stock. Dantai Capital Ltd increased its holdings in shares of Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after acquiring an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC acquired a new position in Cameco during the fourth quarter valued at approximately $895,000. Whalen Wealth Management Inc. bought a new position in shares of Cameco in the fourth quarter valued at approximately $445,000. Sprott Inc. lifted its stake in shares of Cameco by 44.5% in the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after buying an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. bought a new stake in shares of Cameco during the 3rd quarter worth $5,305,000. 70.21% of the stock is currently owned by institutional investors.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.