Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
A number of other equities research analysts have also recently issued reports on CCJ. Royal Bank of Canada cut shares of Cameco from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, May 22nd. TD Securities cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BMO Capital Markets lowered Cameco from an “outperform” rating to a “market perform” rating and set a $15.00 price objective on the stock. in a report on Thursday, July 26th. Finally, TheStreet lowered Cameco from a “c” rating to a “d+” rating in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Cameco currently has a consensus rating of “Hold” and an average target price of $18.00.
Cameco stock opened at $9.76 on Wednesday. Cameco has a 1 year low of $7.68 and a 1 year high of $12.19. The firm has a market capitalization of $4.12 billion, a P/E ratio of 83.96 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.58 and a current ratio of 6.16.
Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, July 25th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Cameco had a negative net margin of 10.03% and a positive return on equity of 1.61%. The company had revenue of $333.00 million during the quarter, compared to analyst estimates of $392.80 million. During the same period in the prior year, the business posted ($0.11) EPS. Cameco’s revenue was down 29.1% compared to the same quarter last year. analysts forecast that Cameco will post 0.26 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. First Republic Investment Management Inc. lifted its holdings in Cameco by 33.0% in the 1st quarter. First Republic Investment Management Inc. now owns 19,153 shares of the basic materials company’s stock valued at $174,000 after purchasing an additional 4,754 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cameco by 3.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 166,373 shares of the basic materials company’s stock valued at $1,512,000 after purchasing an additional 4,845 shares in the last quarter. AMP Capital Investors Ltd lifted its holdings in Cameco by 2.2% in the 2nd quarter. AMP Capital Investors Ltd now owns 244,229 shares of the basic materials company’s stock valued at $2,746,000 after purchasing an additional 5,171 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in Cameco by 4.8% in the 1st quarter. Guggenheim Capital LLC now owns 113,451 shares of the basic materials company’s stock valued at $1,030,000 after purchasing an additional 5,200 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Cameco by 3.7% in the 1st quarter. CIBC Asset Management Inc now owns 168,342 shares of the basic materials company’s stock valued at $1,528,000 after purchasing an additional 5,973 shares in the last quarter. Institutional investors own 51.18% of the company’s stock.
Cameco Company Profile
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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