Cameco (NYSE:CCJ) Raised to “Strong-Buy” at Zacks Research

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

CCJ has been the topic of several other reports. The Goldman Sachs Group lifted their price target on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. National Bankshares reissued an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Finally, Glj Research restated a “buy” rating and set a $99.74 price objective on shares of Cameco in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $121.68.

Cameco Trading Up 1.8%

NYSE CCJ opened at $112.80 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $92.81 and a 200-day moving average of $85.31. The company has a market cap of $49.12 billion, a PE ratio of 131.16 and a beta of 1.01. Cameco has a 12 month low of $35.00 and a 12 month high of $114.45.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. On average, equities research analysts anticipate that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 112 shares in the last quarter. International Assets Investment Management LLC grew its stake in Cameco by 3.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after buying an additional 120 shares in the last quarter. Hager Investment Management Services LLC boosted its holdings in Cameco by 0.4% in the 2nd quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock valued at $2,274,000 after purchasing an additional 127 shares during the period. Lee Johnson Capital Management LLC raised its position in Cameco by 1.2% during the third quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock valued at $903,000 after purchasing an additional 127 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Cameco by 9.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,691 shares of the basic materials company’s stock worth $155,000 after buying an additional 145 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.