Cameco Corp. (CCJ) Given New $17.00 Price Target at Royal Bank Of Canada
Cameco Corp. (NYSE:CCJ) had its price objective cut by stock analysts at Royal Bank Of Canada from $20.00 to $17.00 in a research note issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 115.74% from the stock’s previous close.
CCJ has been the subject of a number of other research reports. Zacks Investment Research raised Cameco Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Vetr raised Cameco Corp. from a “hold” rating to a “buy” rating and set a $11.88 price target for the company in a research report on Thursday, May 19th. Scotiabank lowered Cameco Corp. from an “outperform” rating to a “sector perform” rating in a research report on Thursday, April 7th. Bank of America Corp. lowered Cameco Corp. from a “buy” rating to an “underperform” rating in a research report on Thursday, July 21st. Finally, CIBC reissued a “sector outperform” rating and issued a $22.00 price target on shares of Cameco Corp. in a research report on Saturday, April 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.86.
Shares of Cameco Corp. (NYSE:CCJ) traded down 1.99% during mid-day trading on Tuesday, hitting $7.88. 3,007,098 shares of the stock traded hands. The firm’s 50-day moving average is $8.92 and its 200-day moving average is $10.75. The stock’s market cap is $3.12 billion. Cameco Corp. has a 52 week low of $7.86 and a 52 week high of $14.52.
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Cameco Corp. (NYSE:CCJ) last announced its earnings results on Thursday, July 28th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.30. The company earned $466 million during the quarter, compared to analysts’ expectations of $568.78 million. Cameco Corp. had a positive return on equity of 2.96% and a negative net margin of 3.18%. Cameco Corp.’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 EPS. On average, analysts forecast that Cameco Corp. will post $0.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.0757 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.30 dividend on an annualized basis and a yield of 3.84%. Cameco Corp.’s payout ratio is -206.65%.
Several large investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS acquired a new position in shares of Cameco Corp. during the second quarter valued at $110,000. IFP Advisors Inc raised its position in shares of Cameco Corp. by 7.2% in the second quarter. IFP Advisors Inc now owns 10,073 shares of the company’s stock valued at $111,000 after buying an additional 678 shares during the last quarter. Water Island Capital LLC raised its position in shares of Cameco Corp. by 40.0% in the second quarter. Water Island Capital LLC now owns 10,500 shares of the company’s stock valued at $115,000 after buying an additional 3,000 shares during the last quarter. Sei Investments Co. raised its position in shares of Cameco Corp. by 8.9% in the second quarter. Sei Investments Co. now owns 14,627 shares of the company’s stock valued at $160,000 after buying an additional 1,200 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Cameco Corp. by 118.8% in the second quarter. Advisory Services Network LLC now owns 14,737 shares of the company’s stock valued at $162,000 after buying an additional 8,002 shares during the last quarter. 55.84% of the stock is owned by hedge funds and other institutional investors.
About Cameco Corp.
Cameco Corporation (Cameco) is a uranium producer. The Company is 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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