Cameco Corp. (CCJ) Downgraded to “Strong Sell” at Zacks Investment Research
Cameco Corp. (NYSE:CCJ) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.
According to Zacks, “Cameco Corporation is the world’s largest publicly traded uranium company and a growing gold producer. Its uranium products are used to generate electricity in nuclear power plants around the world, providing one of the cleanest sources of energy available today. “
A number of other brokerages have also weighed in on CCJ. RBC Capital Markets restated an “outperform” rating and issued a $17.00 target price (down from $20.00) on shares of Cameco Corp. in a research note on Tuesday, July 26th. TheStreet lowered Cameco Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Paradigm Capital restated a “buy” rating and issued a $19.50 target price (down from $25.50) on shares of Cameco Corp. in a research note on Thursday, August 4th. Royal Bank Of Canada lowered their price objective on Cameco Corp. from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th. Finally, Vetr upgraded Cameco Corp. from a “hold” rating to a “buy” rating and set a $11.12 price objective for the company in a research report on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Cameco Corp. has a consensus rating of “Hold” and an average price target of $16.86.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/cameco-corp-ccj-downgraded-to-strong-sell-at-zacks-investment-research.html
Shares of Cameco Corp. (NYSE:CCJ) traded down 0.25% during trading on Tuesday, reaching $7.94. 2,139,765 shares of the company were exchanged. Cameco Corp. has a 52-week low of $7.86 and a 52-week high of $14.52. The stock has a 50-day moving average of $8.88 and a 200 day moving average of $10.69. The stock’s market capitalization is $3.14 billion.
Cameco Corp. (NYSE:CCJ) last announced its earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.30. Cameco Corp. had a negative net margin of 3.18% and a positive return on equity of 2.96%. The business earned $466 million during the quarter, compared to analyst estimates of $568.78 million. During the same quarter last year, the business posted $0.12 earnings per share. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. On average, equities analysts anticipate that Cameco Corp. will post $0.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.0757 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.30 annualized dividend and a dividend yield of 3.81%. Cameco Corp.’s payout ratio is currently -206.65%.
Institutional investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS acquired a new position in Cameco Corp. during the second quarter valued at $110,000. IFP Advisors Inc boosted its position in 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 period. Water Island Capital LLC boosted its position in 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 period. Advisory Services Network LLC boosted its position in Cameco Corp. by 11.9% in the third quarter. Advisory Services Network LLC now owns 16,487 shares of the company’s stock valued at $141,000 after buying an additional 1,750 shares during the period. Finally, Sei Investments Co. boosted its position in 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 period. Institutional investors and hedge funds own 55.84% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cameco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cameco Corp. and related companies with MarketBeat.com's FREE daily email newsletter.