Cameco Trading Down 3% Following Analyst Downgrade (CCJ)
Cameco (NYSE:CCJ) dropped 3% during trading on Thursday after RBC Capital lowered their price target on the stock from $27.00 to $26.00, StockRatingsNetwork reports. RBC Capital currently has an outperform rating on the stock. Cameco traded as low as $18.98 and last traded at $19.03, with a volume of 1,713,783 shares. The stock had previously closed at $19.62.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at Salman Partners downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Cameco in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Cameco presently has a consensus rating of “Hold” and a consensus price target of $25.03.
The stock’s 50-day moving average is $20.70 and its 200-day moving average is $21.60. The company has a market cap of $7.500 billion and a price-to-earnings ratio of 19.07.
Cameco (NYSE:CCJ) last released its earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.09. The company had revenue of $419.00 million for the quarter, compared to the consensus estimate of $488.44 million. During the same quarter last year, the company posted $0.07 earnings per share. Cameco’s revenue was down 5.6% compared to the same quarter last year. Analysts expect that Cameco will post $0.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.0907 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, June 26th.
Cameco Corporation (NYSE:CCJ) is engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries.
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