Cameco Corporation (NYSE:CCJ) (TSE:CCO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, August 1st.
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. “
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Cameco Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Bank of America Corporation lowered shares of Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Credit Suisse Group lowered shares of Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Monday, July 17th. Finally, Royal Bank Of Canada started coverage on shares of Cameco Corporation in a report on Thursday, June 29th. They issued an “outperform” rating and a $16.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.07.
Shares of Cameco Corporation (NYSE CCJ) opened at 9.71 on Tuesday. The company’s 50 day moving average is $9.82 and its 200 day moving average is $10.41. The firm’s market cap is $3.84 billion. Cameco Corporation has a 52-week low of $7.41 and a 52-week high of $13.36.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. The business had revenue of $470 million for the quarter, compared to analyst estimates of $383.81 million. Cameco Corporation had a negative net margin of 0.75% and a positive return on equity of 2.59%. Cameco Corporation’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) EPS. Analysts anticipate that Cameco Corporation will post $0.25 earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Cameco Corporation during the first quarter worth about $72,208,000. Beutel Goodman & Co Ltd. boosted its stake in shares of Cameco Corporation by 34.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 23,791,112 shares of the basic materials company’s stock worth $262,895,000 after buying an additional 6,088,870 shares during the period. Wellington Management Group LLP boosted its stake in shares of Cameco Corporation by 1,990.6% in the first quarter. Wellington Management Group LLP now owns 6,283,068 shares of the basic materials company’s stock worth $69,366,000 after buying an additional 5,982,525 shares during the period. Global X Management Co. LLC boosted its stake in shares of Cameco Corporation by 111.9% in the first quarter. Global X Management Co. LLC now owns 5,969,764 shares of the basic materials company’s stock worth $65,891,000 after buying an additional 3,152,321 shares during the period. Finally, Norges Bank acquired a new stake in shares of Cameco Corporation during the fourth quarter worth about $24,278,000. 56.65% of the stock is owned by institutional investors.
About Cameco Corporation
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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