Zacks Research Downgrades Cameco (NYSE:CCJ) to Strong Sell

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Several other research firms also recently commented on CCJ. Weiss Ratings downgraded shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price target on shares of Cameco in a research report on Monday, June 15th. Truist Financial lifted their price objective on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Barclays lowered their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Finally, Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and a consensus target price of $148.68.

Cameco Price Performance

CCJ opened at $93.06 on Monday. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $40.53 billion, a P/E ratio of 157.74, a PEG ratio of 1.78 and a beta of 1.17. The stock has a 50-day moving average price of $94.99 and a 200-day moving average price of $102.60. Cameco has a 12-month low of $77.70 and a 12-month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. Equities analysts predict that Cameco will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in shares of Cameco in the second quarter worth $212,908,000. Amundi raised its position in shares of Cameco by 13.7% in the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company’s stock worth $304,773,000 after purchasing an additional 359,375 shares during the last quarter. Temasek Holdings Private Ltd purchased a new stake in Cameco during the 1st quarter valued at about $70,851,000. Sumitomo Mitsui Trust Group Inc. grew its position in Cameco by 35.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock valued at $58,187,000 after purchasing an additional 139,592 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Cameco during the 2nd quarter valued at about $735,498,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world’s major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company’s operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.