Cameco (NYSE:CCJ) Upgraded to “Hold” at StockNews.com

Cameco (NYSE:CCJ) (TSE:CCO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Other analysts also recently issued reports about the stock. Glj Research lifted their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a 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 on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Finally, Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Stock Performance

NYSE CCJ opened at $43.09 on Wednesday. Cameco has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a market capitalization of $18.76 billion, a P/E ratio of 153.90 and a beta of 1.04. The company has a fifty day moving average of $47.40 and a 200-day moving average of $50.07.

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

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently modified their holdings of the company. FMR LLC increased its position in shares of Cameco by 8.7% in the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after acquiring an additional 1,811,876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cameco by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock valued at $865,729,000 after acquiring an additional 190,337 shares during the period. Vanguard Group Inc. increased its position in shares of Cameco by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after acquiring an additional 270,102 shares during the period. Alliancebernstein L.P. increased its position in shares of Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the period. Finally, Norges Bank purchased a new position in shares of Cameco in the fourth quarter valued at about $188,595,000. 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.