Cameco Corporation (CCJ) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) from a buy rating to a hold rating in a research report report published on Monday morning.
A number of other brokerages have also recently weighed in on CCJ. Credit Suisse Group reiterated a neutral rating on shares of Cameco Corporation in a research note on Tuesday, April 18th. Zacks Investment Research cut shares of Cameco Corporation from a hold rating to a strong sell rating in a research note on Tuesday, August 1st. TheStreet upgraded shares of Cameco Corporation from a d+ rating to a c rating in a research note on Tuesday, August 1st. Royal Bank Of Canada assumed coverage on shares of Cameco Corporation in a research note on Thursday, June 29th. They set an outperform rating and a $16.00 price target for the company. Finally, Bank of America Corporation cut shares of Cameco Corporation from a neutral rating to an underperform rating in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $13.07.
Cameco Corporation (NYSE CCJ) opened at 9.65 on Monday. Cameco Corporation has a 12-month low of $7.41 and a 12-month high of $13.36. The stock’s market capitalization is $3.82 billion. The stock’s 50 day moving average is $9.84 and its 200 day moving average is $10.32.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. The firm had revenue of $470 million during the quarter, compared to analysts’ expectations of $383.81 million. Cameco Corporation had a negative net margin of 0.75% and a positive return on equity of 2.59%. Cameco Corporation’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. Equities analysts predict that Cameco Corporation will post $0.17 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.0799 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Thursday, September 28th. This is an increase from Cameco Corporation’s previous quarterly dividend of $0.07. Cameco Corporation’s dividend payout ratio (DPR) is currently -999.67%.
Several institutional investors have recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Cameco Corporation during the first quarter worth about $72,208,000. Wellington Management Group LLP increased its position in shares of Cameco Corporation by 1,990.6% in the first quarter. Wellington Management Group LLP now owns 6,283,068 shares of the basic materials company’s stock worth $69,366,000 after buying an additional 5,982,525 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Cameco Corporation by 111.9% in the first quarter. Global X Management Co. LLC now owns 5,969,764 shares of the basic materials company’s stock worth $65,891,000 after buying an additional 3,152,321 shares in the last quarter. St. James Investment Company LLC bought a new position in shares of Cameco Corporation during the first quarter worth about $13,580,000. Finally, Russell Investments Group Ltd. increased its position in shares of Cameco Corporation by 22.3% in the second quarter. Russell Investments Group Ltd. now owns 5,850,916 shares of the basic materials company’s stock worth $53,220,000 after buying an additional 1,068,516 shares in the last quarter. Institutional investors and hedge funds own 56.48% of the company’s stock.
About Cameco Corporation
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily 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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