Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks.com reports.
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. "
Several other brokerages have also issued reports on CCJ. Royal Bank of Canada lowered shares of Cameco from a "sector perform" rating to an "underperform" rating and set a $16.00 target price for the company. in a research report on Wednesday, December 16th. Cantor Fitzgerald raised shares of Cameco from a "hold" rating to a "buy" rating in a report on Monday. Bank of America cut Cameco from a "buy" rating to a "neutral" rating in a research note on Thursday, February 11th. BMO Capital Markets raised their price target on Cameco from $18.50 to $23.00 and gave the company an "outperform" rating in a research report on Friday, February 12th. Finally, Scotiabank upped their price objective on Cameco from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Cameco presently has a consensus rating of "Hold" and a consensus target price of $20.83.
Cameco stock traded up $0.04 during midday trading on Tuesday, hitting $16.79. 2,581,402 shares of the company's stock were exchanged, compared to its average volume of 6,462,263. The company has a market cap of $6.67 billion, a P/E ratio of -1,679,000.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 4.78. The stock has a 50-day moving average price of $16.89 and a two-hundred day moving average price of $13.10. Cameco has a 52-week low of $8.88 and a 52-week high of $19.71.
Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, February 9th. The basic materials company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.17. Cameco had a negative return on equity of 0.34% and a negative net margin of 0.09%. The firm had revenue of $550.00 million for the quarter, compared to analysts' expectations of $395.88 million. During the same quarter last year, the firm posted $0.24 EPS. The company's revenue was down 36.9% compared to the same quarter last year. As a group, sell-side analysts expect that Cameco will post -0.17 earnings per share for the current year.
A number of large investors have recently modified their holdings of CCJ. M&T Bank Corp lifted its stake in Cameco by 2.4% in the fourth quarter. M&T Bank Corp now owns 33,395 shares of the basic materials company's stock worth $447,000 after purchasing an additional 776 shares during the last quarter. Sterling Investment Management Inc. lifted its position in Cameco by 0.9% in the fourth quarter. Sterling Investment Management Inc. now owns 105,284 shares of the basic materials company's stock valued at $1,411,000 after purchasing an additional 916 shares during the last quarter. Comerica Bank increased its stake in shares of Cameco by 4.2% in the fourth quarter. Comerica Bank now owns 23,664 shares of the basic materials company's stock worth $293,000 after buying an additional 964 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Cameco by 3.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,483 shares of the basic materials company's stock worth $408,000 after acquiring an additional 1,020 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in shares of Cameco by 23.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 5,610 shares of the basic materials company's stock valued at $75,000 after acquiring an additional 1,062 shares during the period. Institutional investors own 60.24% of the company's stock.
Cameco Corporation produces and sells uranium. It operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.
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