Cameco Corporation (CCJ) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
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 research analysts have also issued research reports about the company. TheStreet upgraded Cameco Corporation from a d+ rating to a c rating in a research report on Tuesday, August 1st. BidaskClub upgraded Cameco Corporation from a hold rating to a buy rating in a research report on Tuesday, August 1st. Credit Suisse Group downgraded shares of Cameco Corporation from a neutral rating to an underperform rating in a research note on Monday, July 17th. Raymond James Financial, Inc. reaffirmed an outperform rating on shares of Cameco Corporation in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada initiated coverage on shares of Cameco Corporation in a research note on Thursday, June 29th. They set an outperform rating and a $16.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Cameco Corporation presently has a consensus rating of Hold and an average price target of $13.07.
Cameco Corporation (NYSE CCJ) opened at 10.03 on Tuesday. The stock’s market capitalization is $3.97 billion. The company’s 50-day moving average price is $9.97 and its 200 day moving average price is $10.22. 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 issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. The firm had revenue of $470 million during the quarter, compared to analyst estimates of $383.81 million. Cameco Corporation had a positive return on equity of 2.59% and a negative net margin of 0.75%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. Equities analysts forecast that Cameco Corporation will post $0.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.0799 dividend. This is an increase from Cameco Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 3.19%. Cameco Corporation’s dividend payout ratio is presently -999.67%.
Hedge funds have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Cameco Corporation during the first quarter valued at $72,208,000. Wellington Management Group LLP boosted its position in 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 last quarter. Global X Management Co. LLC boosted its position in 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 last quarter. St. James Investment Company LLC bought a new position in Cameco Corporation during the first quarter worth $13,580,000. Finally, Russell Investments Group Ltd. boosted its position in Cameco Corporation by 22.3% in the second quarter. Russell Investments Group Ltd. now owns 5,850,916 shares of the basic materials company’s stock worth $53,220,000 after buying an additional 1,068,516 shares during the last quarter. Institutional investors own 56.57% of the company’s stock.
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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