Cameco Corp. (CCJ) Upgraded to “Buy” at Zacks Investment Research
Cameco Corp. (NYSE:CCJ) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $9.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.50% from the stock’s current price.
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. “
Several other brokerages also recently weighed in on CCJ. Vetr downgraded shares of Cameco Corp. from a “buy” rating to a “hold” rating and set a $11.12 target price for the company. in a research note on Thursday, June 23rd. Bank of America Corp. cut shares of Cameco Corp. from a “buy” rating to an “underperform” rating in a report on Thursday, July 21st. RBC Capital Markets reissued an “outperform” rating and set a $17.00 price target (down from $20.00) on shares of Cameco Corp. in a report on Tuesday, July 26th. Royal Bank Of Canada cut their price target on shares of Cameco Corp. from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, July 26th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $17.00 price target (down from $20.00) on shares of Cameco Corp. in a report on Sunday, July 31st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $16.16.
Cameco Corp. (NYSE:CCJ) traded up 1.14% during midday trading on Tuesday, reaching $8.00. The company had a trading volume of 1,485,906 shares. The stock’s market capitalization is $3.17 billion. The firm’s 50 day moving average is $8.65 and its 200 day moving average is $10.53. Cameco Corp. has a 1-year low of $7.45 and a 1-year high of $14.52.
Cameco Corp. (NYSE:CCJ) last announced its earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.30. Cameco Corp. had a positive return on equity of 2.96% and a negative net margin of 3.18%. The business had revenue of $466 million for the quarter, compared to analyst estimates of $568.78 million. During the same quarter last year, the company posted $0.12 EPS. Cameco Corp.’s quarterly revenue was down 17.5% on a year-over-year basis. On average, equities analysts anticipate that Cameco Corp. will post $0.70 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were paid a dividend of $0.0757 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.78%. Cameco Corp.’s dividend payout ratio (DPR) is -206.65%.
Several hedge funds and other institutional investors have recently modified their holdings of CCJ. JPMorgan Chase & Co. boosted its position in shares of Cameco Corp. by 29.6% in the first quarter. JPMorgan Chase & Co. now owns 396,512 shares of the company’s stock worth $5,091,000 after buying an additional 90,624 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in shares of Cameco Corp. during the first quarter worth $520,000. AMF Pensionsforsakring AB boosted its position in shares of Cameco Corp. by 29.7% in the first quarter. AMF Pensionsforsakring AB now owns 16,600 shares of the company’s stock worth $215,000 after buying an additional 3,800 shares during the period. Credit Agricole S A boosted its position in shares of Cameco Corp. by 9.7% in the first quarter. Credit Agricole S A now owns 72,330 shares of the company’s stock worth $929,000 after buying an additional 6,367 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Cameco Corp. by 102.2% in the first quarter. Canada Pension Plan Investment Board now owns 298,144 shares of the company’s stock worth $3,842,000 after buying an additional 150,715 shares during the period. 56.08% of the stock is owned by institutional investors and hedge funds.
About Cameco Corp.
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.
Receive News & Stock Ratings for Cameco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cameco Corp. and related stocks with our FREE daily email newsletter.