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 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. “
Several other research analysts also recently commented on CCJ. Scotiabank downgraded shares of Cameco from a sector perform rating to an underperform rating in a report on Tuesday, October 3rd. Bank of America increased 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 lowered 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 downgraded shares of Cameco from a c rating to a d+ rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $18.33.
Cameco (NYSE CCJ) opened at $9.86 on Wednesday. Cameco has a 1-year low of $7.68 and a 1-year high of $13.36. The company has a market cap of $3,900.00, a PE ratio of -17.00 and a beta of 1.31. 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 (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, October 27th. The basic materials company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.20). Cameco had a negative net margin of 13.04% and a negative return on equity of 0.69%. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $486.84 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 27.5% on a year-over-year basis. equities research analysts forecast that Cameco will post 0.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, December 28th. Cameco’s payout ratio is -53.45%.
Large investors have recently made changes to their positions in the stock. Korea Investment CORP lifted its holdings in shares of Cameco by 331.8% in the 3rd quarter. Korea Investment CORP now owns 107,657 shares of the basic materials company’s stock valued at $1,037,000 after acquiring an additional 82,722 shares during the last quarter. Public Sector Pension investment Board lifted its stake in Cameco by 22.0% in the second quarter. Public Sector Pension investment Board now owns 775,171 shares of the basic materials company’s stock worth $7,049,000 after purchasing an additional 139,800 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Cameco by 20.9% in the third quarter. Great West Life Assurance Co. Can now owns 326,873 shares of the basic materials company’s stock worth $3,204,000 after purchasing an additional 56,606 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Cameco by 48.8% in the second quarter. Intact Investment Management Inc. now owns 385,950 shares of the basic materials company’s stock worth $4,550,000 after purchasing an additional 126,650 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Cameco by 165.7% in the third quarter. Schroder Investment Management Group now owns 3,193,443 shares of the basic materials company’s stock worth $40,046,000 after purchasing an additional 1,991,550 shares during the last quarter. 50.81% of the stock is owned by hedge funds and other institutional investors.
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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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