Cameco (NYSE:CCJ) Upgraded by Stifel Canada to Strong-Buy Rating

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

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus started coverage on Cameco in a research note on Wednesday. They set a “buy” rating on the stock. Glj Research increased their price target on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $73.64.

Cameco Stock Up 1.5 %

Shares of Cameco stock opened at $42.44 on Wednesday. Cameco has a twelve month low of $35.43 and a twelve month high of $62.55. The stock has a market capitalization of $18.47 billion, a price-to-earnings ratio of 151.55 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $47.80 and its 200-day simple moving average is $49.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its 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. The company had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Equities research analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in CCJ. Norges Bank bought a new position in shares of Cameco in the fourth quarter valued at $188,595,000. FMR LLC raised its position in shares of Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after purchasing an additional 1,811,876 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock valued at $115,398,000 after purchasing an additional 1,225,966 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after purchasing an additional 1,196,336 shares during the period. Finally, AGF Management Ltd. increased its stake in Cameco by 54.2% in the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock worth $174,433,000 after purchasing an additional 1,193,266 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

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.