Stifel Nicolaus Initiates Coverage on Cameco (NYSE:CCJ)

Stock analysts at Stifel Nicolaus started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cameco has an average rating of “Buy” and a consensus target price of $73.64.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $41.75 on Wednesday. The firm’s 50 day simple moving average is $48.01 and its 200-day simple moving average is $49.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a one year low of $35.43 and a one year high of $62.55. The firm has a market cap of $18.17 billion, a PE ratio of 149.09 and a beta of 1.04.

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

Hedge Funds Weigh In On Cameco

Hedge funds have recently bought and sold shares of the business. Sierra Ocean LLC acquired a new position in shares of Cameco during the 4th quarter worth approximately $25,000. Hurley Capital LLC purchased a new stake in Cameco in the 4th quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Cameco during the fourth quarter valued at $28,000. Whipplewood Advisors LLC purchased a new position in Cameco during the fourth quarter valued at $33,000. Finally, Pingora Partners LLC purchased a new stake in shares of Cameco during the third quarter worth about $33,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.