Cameco Corporation (NYSE:CCJ) (TSE:CCO) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Cameco Corporation is one of the world’s largest uranium producers, a significant supplier of conversion services and one of two CANDU fuel manufacturers in Canada. Their competitive position is based on their controlling ownership of the world’s largest high-grade reserves and low-cost operations. Their uranium products are used to generate clean electricity in nuclear power plants around the world. They also explore for uranium in the Americas, Australia and Asia. Their shares trade on the Toronto and New York stock exchanges. Their head office is in Saskatoon, Saskatchewan. “

Other research analysts have also issued reports about the stock. Bank of America Corp raised their target price on shares of Cameco Corporation from $27.00 to $29.00 and gave the company an “underperform” rating in a report on Wednesday, October 4th. Scotiabank lowered shares of Cameco Corporation from a “sector perform” rating to an “underperform” rating in a report on Tuesday, October 3rd. Credit Suisse Group lowered shares of Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Monday, July 17th. Royal Bank Of Canada cut their target price on shares of Cameco Corporation from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, October 20th. Finally, BidaskClub raised shares of Cameco Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.22.

Shares of Cameco Corporation (NYSE:CCJ) traded up 0.87% during midday trading on Tuesday, hitting $8.14. 2,249,920 shares of the stock were exchanged. The firm’s market cap is $3.22 billion. Cameco Corporation has a 52-week low of $7.41 and a 52-week high of $13.36. The firm’s 50-day moving average is $9.44 and its 200 day moving average is $9.71.

Cameco Corporation (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, October 27th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.20). Cameco Corporation had a negative net margin of 13.04% and a negative return on equity of 0.69%. The company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $486.84 million. During the same period last year, the business earned $0.30 earnings per share. The company’s quarterly revenue was down 27.5% compared to the same quarter last year. On average, analysts forecast that Cameco Corporation will post $0.12 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of the stock. ARP Americas LLC lifted its position in Cameco Corporation by 34.5% in the third quarter. ARP Americas LLC now owns 51,900 shares of the basic materials company’s stock worth $502,000 after buying an additional 13,300 shares during the last quarter. Accredited Investors Inc. bought a new stake in Cameco Corporation in the third quarter worth $171,000. Intact Investment Management Inc. lifted its position in Cameco Corporation by 24.7% in the third quarter. Intact Investment Management Inc. now owns 481,450 shares of the basic materials company’s stock worth $5,800,000 after buying an additional 95,500 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Cameco Corporation in the third quarter worth $520,000. Finally, Korea Investment CORP lifted its position in Cameco Corporation by 331.8% in the third quarter. Korea Investment CORP now owns 107,657 shares of the basic materials company’s stock worth $1,037,000 after buying an additional 82,722 shares during the last quarter. Institutional investors own 56.50% of the company’s stock.

Cameco Corporation Company Profile

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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