Cameco (CCJ) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research cut shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a strong sell rating in a report released on Monday, February 5th.

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. “

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada dropped their target price on Cameco from $17.00 to $16.00 and set an outperform rating on the stock in a report on Friday, October 20th. TheStreet downgraded Cameco from a c rating to a d+ rating in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $18.33.

Shares of Cameco (CCJ) opened at $8.78 on Monday. Cameco has a 1-year low of $7.68 and a 1-year high of $12.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.40 and a quick ratio of 2.16. The firm has a market cap of $3,480.00, a PE ratio of -21.41, a price-to-earnings-growth ratio of 7.89 and a beta of 1.21.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. The company had revenue of $809.00 million during the quarter, compared to the consensus estimate of $780.91 million. Cameco had a negative net margin of 9.72% and a positive return on equity of 1.23%. Cameco’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. equities research analysts anticipate that Cameco will post 0.17 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CCJ. Principal Financial Group Inc. bought a new stake in Cameco during the second quarter worth approximately $182,000. Alliancebernstein L.P. boosted its position in shares of Cameco by 21.0% in the second quarter. Alliancebernstein L.P. now owns 59,974 shares of the basic materials company’s stock valued at $546,000 after acquiring an additional 10,397 shares during the period. Vanguard Group Inc. boosted its position in shares of Cameco 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 period. FMR LLC boosted its position in shares of Cameco by 13.2% in the second quarter. FMR LLC now owns 307,902 shares of the basic materials company’s stock valued at $2,804,000 after acquiring an additional 35,902 shares during the period. Finally, Virtu KCG Holdings LLC boosted its position in shares of Cameco by 16.8% in the second quarter. Virtu KCG Holdings LLC now owns 62,163 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 8,930 shares during the period. 50.27% of the stock is owned by hedge funds and other institutional investors.

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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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