Zacks Investment Research lowered shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) from a buy rating to a strong sell rating in a research note issued to investors on Tuesday, October 31st.
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 equities research analysts have also recently issued reports about the company. BidaskClub cut Cameco Corporation from a buy rating to a hold rating in a research note on Monday, August 14th. TheStreet raised Cameco Corporation from a d+ rating to a c rating in a research note on Tuesday, August 1st. Raymond James Financial, Inc. reaffirmed an outperform rating on shares of Cameco Corporation in a research note on Tuesday, August 15th. Royal Bank Of Canada decreased their price objective on Cameco Corporation from $17.00 to $16.00 and set an outperform rating for the company in a research note on Friday, October 20th. Finally, Scotiabank cut Cameco Corporation from a sector perform rating to an underperform rating in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $15.22.
Cameco Corporation (NYSE:CCJ) traded up $0.28 during midday trading on Tuesday, hitting $9.39. The stock had a trading volume of 1,276,558 shares, compared to its average volume of 2,585,596. The company has a quick ratio of 2.16, a current ratio of 5.40 and a debt-to-equity ratio of 0.30. Cameco Corporation has a one year low of $7.68 and a one year high of $13.36.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, October 27th. The basic materials company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.20). Cameco Corporation had a negative return on equity of 0.69% and a negative net margin of 13.04%. The company had revenue of $486.00 million for the quarter, compared to analyst estimates of $486.84 million. During the same period last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was down 27.5% on a year-over-year basis. equities research analysts expect that Cameco Corporation will post 0.05 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.078 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.31 annualized dividend and a yield of 3.32%. Cameco Corporation’s dividend payout ratio is presently -57.14%.
A number of hedge funds have recently bought and sold shares of the business. Bank of Nova Scotia Trust Co. lifted its holdings in Cameco Corporation by 0.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 29,534 shares of the basic materials company’s stock worth $269,000 after acquiring an additional 144 shares in the last quarter. Korea Investment CORP lifted its holdings in shares of Cameco Corporation by 1.8% in the second quarter. Korea Investment CORP now owns 24,935 shares of the basic materials company’s stock valued at $227,000 after purchasing an additional 441 shares in the last quarter. Augustine Asset Management Inc. lifted its holdings in shares of Cameco Corporation by 0.5% in the second quarter. Augustine Asset Management Inc. now owns 103,021 shares of the basic materials company’s stock valued at $937,000 after purchasing an additional 474 shares in the last quarter. Usca Ria LLC lifted its holdings in shares of Cameco Corporation by 4.6% in the second quarter. Usca Ria LLC now owns 11,668 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 510 shares in the last quarter. Finally, Brookstone Capital Management lifted its holdings in shares of Cameco Corporation by 9.8% in the second quarter. Brookstone Capital Management now owns 11,522 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 52.97% of the company’s stock.
Cameco Corporation Company Profile
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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