Royal Bank of Canada Lowers Cameco (CCO) to Sector Perform

Cameco (TSE:CCO) (NYSE:CCJ) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Tuesday. They presently have a C$15.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.73% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. TD Securities lifted their target price on Cameco from C$15.00 to C$16.50 and gave the stock a “buy” rating in a report on Tuesday, May 1st. Eight Capital lifted their target price on Cameco from C$14.00 to C$15.00 in a report on Monday, April 30th. CIBC reiterated a “neutral” rating and issued a C$12.00 target price on shares of Cameco in a report on Thursday, March 8th. Scotiabank lifted their target price on Cameco from C$10.50 to C$11.00 and gave the stock an “underperform” rating in a report on Thursday, February 22nd. Finally, BMO Capital Markets set a C$15.00 target price on Cameco and gave the stock an “outperform” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$13.58.

Shares of Cameco traded down C$0.98, reaching C$13.67, during mid-day trading on Tuesday, according to 1,596,046 shares of the company were exchanged, compared to its average volume of 1,196,878. Cameco has a 52 week low of C$9.90 and a 52 week high of C$15.01.

Cameco (TSE:CCO) (NYSE:CCJ) last issued its earnings results on Friday, April 27th. The company reported C$0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.03) by C$0.09. The business had revenue of C$439.00 million during the quarter. Cameco had a negative return on equity of 5.04% and a negative net margin of 7.57%.

In other Cameco news, insider Alice Louise Wong bought 6,957 shares of the stock in a transaction on Friday, March 2nd. The stock was acquired at an average cost of C$11.37 per share, for a total transaction of C$79,101.09.

About Cameco

Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.

Analyst Recommendations for Cameco (TSE:CCO)

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