Zacks Investment Research upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a strong sell rating to a hold rating in a research note released on Wednesday, December 27th.
According to Zacks, “Cameco Corporation is one of the world’s largest uranium producers, a significant supplier of conversion services and one of two CANDU fuel manufacturers in Canada. Their competitive position is based on their controlling ownership of the world’s largest high-grade reserves and low-cost operations. Their uranium products are used to generate clean electricity in nuclear power plants around the world. They also explore for uranium in the Americas, Australia and Asia. Their shares trade on the Toronto and New York stock exchanges. Their head office is in Saskatoon, Saskatchewan. “
A number of other equities analysts have also recently commented on CCJ. Scotiabank cut shares of Cameco from a sector perform rating to an underperform rating in a research note on Tuesday, October 3rd. Bank of America lifted their price objective on shares of Cameco from $27.00 to $29.00 and gave the company an underperform rating in a report on Wednesday, October 4th. Royal Bank of Canada reduced their price target on shares of Cameco from $17.00 to $16.00 and set an outperform rating for the company in a report on Friday, October 20th. Finally, TheStreet lowered shares of Cameco from a c rating to a d+ rating in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Cameco presently has an average rating of Hold and an average price target of $18.33.
Shares of Cameco (CCJ) traded up $0.17 during trading on Wednesday, reaching $9.53. 4,255,100 shares of the company were exchanged, compared to its average volume of 2,508,072. The company has a current ratio of 5.40, a quick ratio of 2.16 and a debt-to-equity ratio of 0.30. Cameco has a 12 month low of $7.68 and a 12 month high of $13.36. The company has a market capitalization of $3,830.00, a P/E ratio of -16.43 and a beta of 1.31.
Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, October 27th. The basic materials company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.20). The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $486.84 million. Cameco had a negative net margin of 13.04% and a negative return on equity of 0.69%. The firm’s revenue for the quarter was down 27.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. equities research analysts predict that Cameco will post 0.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be given a dividend of $0.078 per share. This represents a $0.31 annualized dividend and a yield of 3.27%. The ex-dividend date is Thursday, December 28th. Cameco’s dividend payout ratio is presently -53.45%.
Several hedge funds have recently added to or reduced their stakes in CCJ. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Cameco by 32.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,182,205 shares of the basic materials company’s stock valued at $156,571,000 after acquiring an additional 3,995,805 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Cameco by 165.7% in the 3rd quarter. Schroder Investment Management Group now owns 3,193,443 shares of the basic materials company’s stock valued at $40,046,000 after acquiring an additional 1,991,550 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cameco by 27.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,471,274 shares of the basic materials company’s stock valued at $72,186,000 after acquiring an additional 1,620,358 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its holdings in shares of Cameco by 21.2% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 6,772,733 shares of the basic materials company’s stock valued at $65,255,000 after acquiring an additional 1,184,992 shares during the last quarter. Finally, Black Creek Investment Management Inc. boosted its holdings in shares of Cameco by 34.3% in the 2nd quarter. Black Creek Investment Management Inc. now owns 3,628,917 shares of the basic materials company’s stock valued at $33,000,000 after acquiring an additional 926,901 shares during the last quarter. 50.81% of the stock is currently owned by institutional investors and hedge funds.
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Cameco 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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