Cameco Corp. (CCJ) Receives “Sector Perform” Rating from Scotiabank
Scotiabank reaffirmed their sector perform rating on shares of Cameco Corp. (NYSE:CCJ) (TSE:CCO) in a research report sent to investors on Saturday morning. The firm currently has a $12.50 target price on the stock.
Other research analysts also recently issued research reports about the stock. RBC Capital Markets reaffirmed an outperform rating and issued a $15.00 price target (down previously from $17.00) on shares of Cameco Corp. in a report on Thursday, August 11th. Zacks Investment Research downgraded shares of Cameco Corp. from a hold rating to a sell rating in a report on Thursday. TheStreet downgraded shares of Cameco Corp. from a hold rating to a sell rating in a report on Wednesday, August 3rd. Dundee Securities reaffirmed a buy rating and issued a $17.50 price target on shares of Cameco Corp. in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada lowered their price target on shares of Cameco Corp. from $17.00 to $15.00 and set an outperform rating for the company in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $14.96.
Cameco Corp. (NYSE:CCJ) opened at 9.26 on Friday. Cameco Corp. has a 12-month low of $7.41 and a 12-month high of $13.59. The firm’s 50 day moving average price is $8.35 and its 200-day moving average price is $9.75. The stock has a market cap of $3.67 billion, a P/E ratio of 69.10 and a beta of 1.42.
Cameco Corp. (NYSE:CCJ) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. Cameco Corp. had a net margin of 2.73% and a return on equity of 3.70%. The firm earned $670 million during the quarter, compared to the consensus estimate of $494.13 million. During the same quarter last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Cameco Corp. will post $0.57 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in CCJ. First Heartland Consultants Inc. purchased a new stake in shares of Cameco Corp. during the third quarter valued at about $152,000. Water Island Capital LLC increased its stake in shares of Cameco Corp. by 23.8% in the third quarter. Water Island Capital LLC now owns 13,000 shares of the company’s stock valued at $111,000 after buying an additional 2,500 shares during the last quarter. LPL Financial LLC increased its stake in shares of Cameco Corp. by 13.3% in the third quarter. LPL Financial LLC now owns 108,455 shares of the company’s stock valued at $878,000 after buying an additional 12,692 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Cameco Corp. by 64.8% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,129,014 shares of the company’s stock valued at $9,630,000 after buying an additional 443,939 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Cameco Corp. by 21.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 50,305 shares of the company’s stock valued at $429,000 after buying an additional 8,944 shares during the last quarter. 56.98% of the stock is owned by institutional investors and hedge funds.
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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