Cameco Corp. (CCJ) Raised to Buy at Zacks Investment Research
Cameco Corp. (NYSE:CCJ) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $9.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 12.50% from the stock’s previous close.
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 a number of other research reports. Dundee Securities reaffirmed a “buy” rating and issued a $17.50 price target on shares of Cameco Corp. in a research note on Wednesday, August 10th. Scotiabank reaffirmed a “sector perform” rating and issued a $13.50 price target on shares of Cameco Corp. in a research note on Thursday, September 22nd. Royal Bank Of Canada cut their price objective on shares of Cameco Corp. from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 26th. BMO Capital Markets reissued an “outperform” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Cameco Corp. in a research report on Sunday, July 31st. Finally, Vetr lowered shares of Cameco Corp. from a “buy” rating to a “hold” rating and set a $11.12 price objective on the stock. in a research report on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $16.16.
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 http://www.americanbankingnews.com/2016/10/18/cameco-corp-ccj-raised-to-buy-at-zacks-investment-research.html
Cameco Corp. (NYSE:CCJ) traded up 1.14% during mid-day trading on Tuesday, reaching $8.00. 1,485,906 shares of the company’s stock traded hands. The firm has a 50 day moving average of $8.65 and a 200 day moving average of $10.53. The firm’s market cap is $3.17 billion. Cameco Corp. has a 1-year low of $7.45 and a 1-year high of $14.52.
Cameco Corp. (NYSE:CCJ) last announced its quarterly 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 company earned $466 million during the quarter, compared to the consensus estimate of $568.78 million. During the same period in the previous year, the firm posted $0.12 EPS. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. Analysts forecast that Cameco Corp. will post $0.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a $0.0757 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.30 annualized dividend and a dividend yield of 3.78%. Cameco Corp.’s dividend payout ratio is currently -206.65%.
Several institutional investors have recently added to or reduced their stakes in CCJ. Quantbot Technologies LP increased its position in Cameco Corp. by 1.3% in the second quarter. Quantbot Technologies LP now owns 52,212 shares of the company’s stock valued at $572,000 after buying an additional 645 shares in the last quarter. IFP Advisors Inc increased 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 in the last quarter. Evanson Asset Management LLC increased its position in Cameco Corp. by 5.8% in the third quarter. Evanson Asset Management LLC now owns 12,700 shares of the company’s stock valued at $109,000 after buying an additional 700 shares in the last quarter. Sei Investments Co. increased 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 in the last quarter. Finally, Highstreet Asset Management Inc. increased its position in Cameco Corp. by 4.0% in the second quarter. Highstreet Asset Management Inc. now owns 37,810 shares of the company’s stock valued at $415,000 after buying an additional 1,451 shares in the last quarter. Hedge funds and other institutional investors own 56.08% of the company’s stock.
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.