Cameco Corporation (CCJ) Upgraded by BidaskClub to “Hold”
Cameco Corporation (NYSE:CCJ) (TSE:CCO) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
CCJ has been the topic of several other reports. Zacks Investment Research cut Cameco Corporation from a “buy” rating to a “strong sell” rating in a report on Monday, March 13th. Royal Bank of Canada started coverage on Cameco Corporation in a report on Thursday, June 29th. They issued an “outperform” rating and a $16.00 target price on the stock. Credit Suisse Group reiterated a “neutral” rating on shares of Cameco Corporation in a report on Tuesday, April 18th. Finally, Bank of America Corporation cut Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.92.
Shares of Cameco Corporation (NYSE CCJ) traded up 0.54% on Wednesday, hitting $9.27. 882,006 shares of the stock traded hands. Cameco Corporation has a 1-year low of $7.41 and a 1-year high of $13.36. The stock has a 50 day moving average of $9.45 and a 200-day moving average of $10.66. The stock’s market cap is $3.67 billion.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, April 28th. The basic materials company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The company had revenue of $393 million for the quarter, compared to analysts’ expectations of $351.40 million. Cameco Corporation had a positive return on equity of 2.26% and a negative net margin of 6.47%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts expect that Cameco Corporation will post $0.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.0741 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Wednesday, June 28th. Cameco Corporation’s payout ratio is -100.00%.
Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in shares of Cameco Corporation during the first quarter worth $116,000. Credit Agricole S A raised its position in shares of Cameco Corporation by 138.4% in the fourth quarter. Credit Agricole S A now owns 174,336 shares of the basic materials company’s stock worth $1,825,000 after buying an additional 101,208 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Cameco Corporation by 2.4% in the first quarter. Gulf International Bank UK Ltd now owns 119,035 shares of the basic materials company’s stock worth $1,315,000 after buying an additional 2,800 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Cameco Corporation by 39.8% in the first quarter. Confluence Investment Management LLC now owns 17,254 shares of the basic materials company’s stock worth $191,000 after buying an additional 4,915 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. raised its position in shares of Cameco Corporation by 34.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 23,791,112 shares of the basic materials company’s stock worth $262,895,000 after buying an additional 6,088,870 shares during the last quarter. 56.89% of the stock is currently owned by institutional investors.
About Cameco Corporation
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily 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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