Cameco Corp. (CCJ) Downgraded to Sell at Zacks Investment Research
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. “
CCJ has been the topic of several other reports. TD Securities reiterated a hold rating and set a $12.00 price target (down from $12.50) on shares of Cameco Corp. in a research report on Thursday, November 3rd. Dundee Securities reiterated a buy rating and set a $17.50 price target on shares of Cameco Corp. in a research report on Wednesday, August 10th. Scotiabank reiterated a sector perform rating and set a $13.50 price target on shares of Cameco Corp. in a research report on Thursday, September 22nd. BMO Capital Markets reiterated an outperform rating and set a $17.00 price target (down from $20.00) on shares of Cameco Corp. in a research report on Sunday, July 31st. Finally, TheStreet upgraded Cameco Corp. from a sell rating to a hold rating in a research report on Monday, November 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Cameco Corp. currently has a consensus rating of Hold and a consensus target price of $15.06.
Cameco Corp. (NYSE:CCJ) opened at 9.22 on Thursday. Cameco Corp. has a 1-year low of $7.41 and a 1-year high of $13.59. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 68.81 and a beta of 1.42. The company has a 50-day moving average price of $8.31 and a 200 day moving average price of $9.77.
Cameco Corp. (NYSE:CCJ) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. Cameco Corp. had a return on equity of 3.70% and a net margin of 2.73%. The company had revenue of $670 million for the quarter, compared to analysts’ expectations of $494.13 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts anticipate that Cameco Corp. will post $0.57 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. raised its position in Cameco Corp. by 1.1% in the third quarter. 1832 Asset Management L.P. now owns 11,885 shares of the company’s stock valued at $102,000 after buying an additional 130 shares during the period. Quantbot Technologies LP raised its position in Cameco Corp. by 1.3% in the second quarter. Quantbot Technologies LP now owns 52,212 shares of the company’s stock valued at $572,000 after buying an additional 645 shares during the period. IFP Advisors Inc raised its position in Cameco Corp. by 7.2% in the second quarter. IFP Advisors Inc now owns 10,073 shares of the company’s stock valued at $111,000 after buying an additional 678 shares during the period. Evanson Asset Management LLC raised its position in Cameco Corp. by 5.8% in the third quarter. Evanson Asset Management LLC now owns 12,700 shares of the company’s stock valued at $109,000 after buying an additional 700 shares during the period. Finally, Formula Growth Ltd. raised its position in Cameco Corp. by 0.3% in the third quarter. Formula Growth Ltd. now owns 318,000 shares of the company’s stock valued at $2,722,000 after buying an additional 1,000 shares during the period. Institutional investors own 56.98% of the company’s stock.
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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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