Cameco (NYSE:CCJ) Now Covered by Desjardins

Investment analysts at Desjardins started coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research report issued on Friday. The brokerage set a “buy” rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the stock. Sanford C. Bernstein began coverage on shares of Cameco in a research note on Tuesday. They issued an “outperform” rating and a $52.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $70.03.

Cameco Stock Down 9.4 %

Shares of NYSE:CCJ traded down $3.85 on Friday, reaching $37.06. The company had a trading volume of 2,705,118 shares, compared to its average volume of 4,089,393. The firm’s 50 day simple moving average is $45.38 and its 200-day simple moving average is $50.27. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a 52-week low of $35.43 and a 52-week high of $62.55. The firm has a market capitalization of $16.13 billion, a PE ratio of 131.80 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million during 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%. As a group, analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Old West Investment Management LLC grew its position in Cameco by 10.4% in the third quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock valued at $13,472,000 after acquiring an additional 26,584 shares during the period. Captrust Financial Advisors lifted its stake in Cameco by 69.2% in the third quarter. Captrust Financial Advisors now owns 48,690 shares of the basic materials company’s stock valued at $2,325,000 after buying an additional 19,921 shares during the period. Flow Traders U.S. LLC bought a new position in Cameco during the 3rd quarter worth approximately $337,000. Hilltop Holdings Inc. acquired a new position in Cameco in the third quarter valued at about $205,000. Finally, HighTower Advisors LLC raised its holdings in Cameco by 6.0% during the 3rd quarter. HighTower Advisors LLC now owns 617,538 shares of the basic materials company’s stock worth $29,519,000 after buying an additional 35,180 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.