Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, 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. “
Other equities research analysts have also recently issued research reports about the stock. raised their price objective on shares of Cameco from C$27.00 to C$34.00 and gave the stock a “buy” rating in a research note on Thursday, September 23rd. Royal Bank of Canada raised their price objective on shares of Cameco from C$26.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Monday, November 1st. Scotiabank lifted their price target on shares of Cameco from C$35.00 to C$38.00 and gave the company an “outperform” rating in a research note on Monday, November 1st. CIBC assumed coverage on Cameco in a report on Wednesday. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets raised their price objective on Cameco from C$26.00 to C$28.00 and gave the company a “market perform” rating in a report on Tuesday, November 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $31.88.
Shares of Cameco stock traded up $0.24 during midday trading on Wednesday, hitting $21.82. The company had a trading volume of 6,927,196 shares, compared to its average volume of 7,172,848. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of -311.67 and a beta of 0.85. The company has a quick ratio of 5.00, a current ratio of 6.34 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $23.44 and a 200 day simple moving average of $21.73. Cameco has a 12-month low of $12.16 and a 12-month high of $28.49.
Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, October 28th. The basic materials company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.10). The company had revenue of $361.00 million during the quarter, compared to analysts’ expectations of $422.49 million. Cameco had a negative net margin of 2.42% and a negative return on equity of 1.54%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, analysts expect that Cameco will post -0.25 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Spire Wealth Management lifted its stake in Cameco by 25.5% in the fourth quarter. Spire Wealth Management now owns 5,119 shares of the basic materials company’s stock valued at $112,000 after buying an additional 1,040 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Cameco by 32.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,277,019 shares of the basic materials company’s stock valued at $115,092,000 after buying an additional 1,293,760 shares during the last quarter. Foundation Resource Management Inc. lifted its stake in Cameco by 100.9% in the fourth quarter. Foundation Resource Management Inc. now owns 1,652,392 shares of the basic materials company’s stock valued at $36,039,000 after buying an additional 829,735 shares during the last quarter. Wealthsource Partners LLC purchased a new stake in shares of Cameco during the third quarter worth approximately $2,555,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Cameco during the third quarter worth approximately $3,803,000. Institutional investors own 58.29% of the company’s stock.
Cameco Company Profile
Cameco Corp. engages in the provision of uranium. The company operates through the following segments: Uranium and Fuel Services. The Uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The Fuel Services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services.