Cameco (NYSE:CCJ) Stock Rating Lowered by Wall Street Zen

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts also recently issued reports about the stock. Scotiabank reissued an “outperform” rating on shares of Cameco in a report on Tuesday, July 8th. CLSA started coverage on shares of Cameco in a report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price target for the company. BMO Capital Markets reissued an “outperform” rating on shares of Cameco in a report on Friday, August 29th. UBS Group set a $102.00 price target on shares of Cameco in a report on Tuesday, September 9th. Finally, TD Securities reissued a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $89.55.

Cameco Price Performance

Shares of Cameco stock opened at $86.61 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $65.97. Cameco has a twelve month low of $35.00 and a twelve month high of $91.58. The firm has a market cap of $37.71 billion, a P/E ratio of 99.55 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC raised its stake in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Dagco Inc. acquired a new position in shares of Cameco in the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new position in shares of Cameco in the first quarter valued at approximately $29,000. Trust Co. of Vermont boosted its holdings in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after buying an additional 350 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its holdings in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Company Profile

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.