Desjardins Begins Coverage on Cameco (NYSE:CCJ)

Analysts at Desjardins assumed coverage on shares of Cameco (NYSE:CCJ) (TSE:CCO) in a research note issued on Friday. The firm set a “buy” rating on the basic materials company’s stock.

CCJ has been the subject of a number of other reports. Sanford C. Bernstein assumed coverage on shares of Cameco in a research report on Tuesday. They set an “outperform” rating and a $52.00 target price for the company. 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. Stifel Canada raised Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Stifel Nicolaus initiated coverage on shares of Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Finally, StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of $70.03.

Cameco Trading Down 9.4 %

CCJ traded down $3.85 during midday trading on Friday, hitting $37.06. 2,705,118 shares of the company were exchanged, compared to its average volume of 4,089,393. The firm’s 50 day moving average price is $45.38 and its 200-day moving average price is $50.27. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55. The firm has a market capitalization of $16.13 billion, a P/E ratio of 131.80 and a beta of 1.04.

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

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in Cameco by 37.4% in the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP increased its stake in shares of Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock worth $2,592,000 after purchasing an additional 238 shares in the last quarter. Heritage Wealth Management Inc. boosted its holdings in Cameco by 0.8% in the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock worth $1,587,000 after buying an additional 250 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 267 shares during the last quarter. Finally, EdgeRock Capital LLC boosted its stake in shares of Cameco by 2.2% in the fourth quarter. EdgeRock Capital LLC now owns 13,986 shares of the basic materials company’s stock worth $719,000 after acquiring an additional 297 shares during the last quarter. 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.