Cameco Corporation (CCJ) PT Raised to $29.00 at Bank of America Corporation
Cameco Corporation (NYSE:CCJ) (TSE:CCO) had its price objective lifted by Bank of America Corporation from $27.00 to $29.00 in a report released on Wednesday morning. They currently have an underperform rating on the basic materials company’s stock.
CCJ has been the subject of a number of other research reports. Royal Bank Of Canada started coverage on shares of Cameco Corporation in a report on Thursday, June 29th. They issued an outperform rating and a $16.00 price target for the company. Zacks Investment Research lowered shares of Cameco Corporation from a hold rating to a strong sell rating in a report on Tuesday, August 1st. BidaskClub raised shares of Cameco Corporation from a strong sell rating to a sell rating in a report on Thursday, June 29th. Credit Suisse Group lowered shares of Cameco Corporation from a neutral rating to an underperform rating in a report on Monday, July 17th. Finally, Scotiabank lowered shares of Cameco Corporation from a sector perform rating to an underperform rating in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $16.27.
Shares of Cameco Corporation (CCJ) opened at 9.32 on Wednesday. The firm has a 50-day moving average price of $9.88 and a 200-day moving average price of $9.98. Cameco Corporation has a 52-week low of $7.41 and a 52-week high of $13.36. The firm’s market capitalization is $3.69 billion.
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, beating analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $470.00 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. On average, equities research analysts anticipate that Cameco Corporation will post $0.15 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.0799 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Cameco Corporation’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 3.43%. Cameco Corporation’s dividend payout ratio (DPR) is presently -1,066.31%.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Cameco Corporation by 4.1% in the second quarter. Vanguard Group Inc. now owns 9,352,660 shares of the basic materials company’s stock valued at $85,108,000 after acquiring an additional 371,126 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Cameco Corporation in the first quarter valued at approximately $72,208,000. Wellington Management Group LLP boosted its stake in 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 valued at $69,366,000 after acquiring an additional 5,982,525 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in 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 valued at $53,220,000 after acquiring an additional 1,068,516 shares during the last quarter. Finally, Guardian Capital LP boosted its stake in Cameco Corporation by 1.7% in the second quarter. Guardian Capital LP now owns 5,551,295 shares of the basic materials company’s stock valued at $50,497,000 after acquiring an additional 94,350 shares during the last quarter. 56.53% of the stock is currently owned by hedge funds and other institutional investors.
Cameco Corporation Company Profile
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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