Zacks Investment Research upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a strong sell rating to a hold rating in a report released on Tuesday morning.
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. “
Several other equities research analysts also recently weighed in on CCJ. TheStreet downgraded Cameco from a c rating to a d+ rating in a report on Friday, October 27th. Royal Bank of Canada decreased their price objective on Cameco from $17.00 to $16.00 and set an outperform rating for the company in a report on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $18.33.
Shares of Cameco (NYSE:CCJ) opened at $9.02 on Tuesday. The firm has a market capitalization of $3,475.06, a P/E ratio of -21.48, a PEG ratio of 6.57 and a beta of 1.21. Cameco has a fifty-two week low of $7.68 and a fifty-two week high of $12.37. The company has a quick ratio of 2.16, a current ratio of 5.40 and a debt-to-equity ratio of 0.30.
Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, February 9th. The basic materials company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The business had revenue of $809.00 million during the quarter, compared to the consensus estimate of $780.91 million. Cameco had a positive return on equity of 1.23% and a negative net margin of 9.72%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. sell-side analysts predict that Cameco will post 0.21 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Cameco during the third quarter worth $109,000. Mitchell Sinkler & Starr PA acquired a new stake in shares of Cameco during the third quarter worth $113,000. Pinebridge Investments L.P. acquired a new stake in shares of Cameco during the third quarter worth $114,000. Timber Hill LLC acquired a new stake in shares of Cameco during the fourth quarter worth $117,000. Finally, Rathbone Brothers plc acquired a new stake in shares of Cameco during the fourth quarter worth $122,000. 50.27% of the stock is 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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