Cameco Corp. (CCJ) Downgraded to “Strong Sell” at Zacks Investment Research
Cameco Corp. (NYSE:CCJ) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Cameco Corporation is the world’s largest publicly traded uranium company and a growing gold producer. Its uranium products are used to generate electricity in nuclear power plants around the world, providing one of the cleanest sources of energy available today. “
A number of other research firms also recently issued reports on CCJ. RBC Capital Markets restated an “outperform” rating and issued a $17.00 target price (down from $20.00) on shares of Cameco Corp. in a report on Tuesday, July 26th. TheStreet downgraded shares of Cameco Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Paradigm Capital restated a “buy” rating and issued a $19.50 target price (down from $25.50) on shares of Cameco Corp. in a report on Thursday, August 4th. Royal Bank Of Canada decreased their price objective on shares of Cameco Corp. from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Finally, Vetr upgraded shares of Cameco Corp. from a “hold” rating to a “buy” rating and set a $11.12 price objective for the company in a research note on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Cameco Corp. presently has an average rating of “Hold” and a consensus target price of $16.86.
Shares of Cameco Corp. (NYSE:CCJ) traded down 0.25% during midday trading on Tuesday, hitting $7.94. 2,139,765 shares of the stock were exchanged. Cameco Corp. has a 12-month low of $7.86 and a 12-month high of $14.52. The firm has a 50 day moving average of $8.88 and a 200 day moving average of $10.69. The firm’s market cap is $3.14 billion.
Cameco Corp. (NYSE:CCJ) last released its earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.30. Cameco Corp. had a negative net margin of 3.18% and a positive return on equity of 2.96%. The company earned $466 million during the quarter, compared to analysts’ expectations of $568.78 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Cameco Corp.’s revenue for the quarter was down 17.5% compared to the same quarter last year. Equities analysts forecast that Cameco Corp. will post $0.70 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.0757 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.30 annualized dividend and a yield of 3.81%. Cameco Corp.’s dividend payout ratio is presently -206.65%.
A number of hedge funds have recently bought and sold shares of the stock. Jarislowsky Fraser Ltd boosted its stake in Cameco Corp. by 1.7% in the second quarter. Jarislowsky Fraser Ltd now owns 17,180,015 shares of the company’s stock valued at $250,539,000 after buying an additional 293,494 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cameco Corp. by 11.1% in the second quarter. Vanguard Group Inc. now owns 8,131,261 shares of the company’s stock valued at $89,200,000 after buying an additional 813,573 shares in the last quarter. Kopernik Global Investors LLC boosted its stake in Cameco Corp. by 16.2% in the second quarter. Kopernik Global Investors LLC now owns 7,244,713 shares of the company’s stock valued at $79,476,000 after buying an additional 1,009,035 shares in the last quarter. AQR Capital Management LLC boosted its stake in Cameco Corp. by 31.4% in the second quarter. AQR Capital Management LLC now owns 7,037,742 shares of the company’s stock valued at $76,897,000 after buying an additional 1,681,056 shares in the last quarter. Finally, Allianz Asset Management AG boosted its stake in Cameco Corp. by 2.1% in the second quarter. Allianz Asset Management AG now owns 5,579,792 shares of the company’s stock valued at $60,967,000 after buying an additional 116,317 shares in the last quarter. 55.84% of the stock is currently owned by hedge funds and other institutional investors.
Cameco Corp. Company Profile
Cameco Corporation (Cameco) is a uranium producer. The Company is engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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