Cameco Corp. (CCJ) Rating Lowered 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 note issued to investors 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. “
CCJ has been the topic of several other research reports. Dundee Securities restated a “buy” rating and set a $17.50 price target on shares of Cameco Corp. in a report on Wednesday, August 10th. Scotiabank restated a “sector perform” rating and set a $13.50 price target on shares of Cameco Corp. in a report on Thursday, September 22nd. Royal Bank Of Canada cut their price target on Cameco Corp. from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, July 26th. BMO Capital Markets restated an “outperform” rating and set a $17.00 price target (down previously from $20.00) on shares of Cameco Corp. in a report on Sunday, July 31st. Finally, Vetr downgraded Cameco Corp. from a “buy” rating to a “hold” rating and set a $11.12 price target on the stock. in a report on Thursday, June 23rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price 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-rating-lowered-to-strong-sell-at-zacks-investment-research.html
Cameco Corp. (NYSE:CCJ) traded down 0.25% during midday trading on Tuesday, hitting $7.94. The company had a trading volume of 2,139,765 shares. The firm has a 50-day moving average price of $8.88 and a 200-day moving average price of $10.69. Cameco Corp. has a 12 month low of $7.86 and a 12 month high of $14.52. The company’s market cap is $3.14 billion.
Cameco Corp. (NYSE:CCJ) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.30. Cameco Corp. had a positive return on equity of 2.96% and a negative net margin of 3.18%. The company had revenue of $466 million for the quarter, compared to analysts’ expectations of $568.78 million. During the same quarter last year, the company earned $0.12 EPS. Cameco Corp.’s revenue for the quarter was down 17.5% compared to the same quarter last year. Equities analysts anticipate that Cameco Corp. will post $0.70 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.0757 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.81%. Cameco Corp.’s dividend payout ratio (DPR) is presently -206.65%.
Several hedge funds have recently made changes to their positions in CCJ. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Cameco Corp. during the second quarter worth about $110,000. IFP Advisors Inc boosted its stake in Cameco Corp. by 7.2% in the second quarter. IFP Advisors Inc now owns 10,073 shares of the company’s stock worth $111,000 after buying an additional 678 shares during the last quarter. Water Island Capital LLC boosted its stake in Cameco Corp. by 40.0% in the second quarter. Water Island Capital LLC now owns 10,500 shares of the company’s stock worth $115,000 after buying an additional 3,000 shares during the last quarter. Advisory Services Network LLC boosted its stake in Cameco Corp. by 11.9% in the third quarter. Advisory Services Network LLC now owns 16,487 shares of the company’s stock worth $141,000 after buying an additional 1,750 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Cameco Corp. by 8.9% in the second quarter. Sei Investments Co. now owns 14,627 shares of the company’s stock worth $160,000 after buying an additional 1,200 shares during the last quarter. 55.84% of the stock is owned by hedge funds and other institutional investors.
Cameco Corp. Company Profile
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.