Zacks Investment Research upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a hold rating to a buy rating in a report issued on Thursday. The brokerage currently has $14.00 price objective on the basic materials company’s stock.
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 brokerages have also issued reports on CCJ. TheStreet raised Cameco from a d+ rating to a c rating in a research note on Monday, November 5th. Royal Bank of Canada upped their price target on Cameco from $15.00 to $16.00 and gave the company a sector perform rating in a research note on Monday, November 5th. Bank of America raised Cameco from a neutral rating to a buy rating in a research note on Monday, November 19th. Finally, Rosenblatt Securities lowered Cameco to a hold rating in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Cameco presently has a consensus rating of Hold and a consensus target price of $15.33.
Shares of CCJ opened at $12.11 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.57 and a debt-to-equity ratio of 0.21. Cameco has a 12-month low of $8.34 and a 12-month high of $12.78. The firm has a market cap of $4.79 billion, a PE ratio of 100.92 and a beta of 0.97.
Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, November 2nd. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.12. Cameco had a positive return on equity of 3.99% and a negative net margin of 2.65%. The business had revenue of $488.00 million for the quarter, compared to analyst estimates of $576.92 million. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Research analysts anticipate that Cameco will post 0.27 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in Cameco by 284.6% in the fourth quarter. Quadrant Capital Group LLC now owns 6,850 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 5,069 shares during the last quarter. Banco de Sabadell S.A increased its holdings in shares of Cameco by 100.0% in the third quarter. Banco de Sabadell S.A now owns 10,000 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 5,000 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Cameco in the third quarter worth about $120,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Cameco in the third quarter worth about $125,000. Finally, Ayalon Holdings Ltd. bought a new stake in shares of Cameco in the third quarter worth about $149,000. Institutional investors and hedge funds own 48.51% of the company’s stock.
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.
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