Cameco Corp. (NYSE:CCJ) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $9.00 price objective on the stock. Zacks Investment Research’s price target suggests 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. “
Other analysts have also issued reports about the stock. Paradigm Capital reaffirmed a “buy” rating and issued a $19.50 price target (down from $25.50) on shares of Cameco Corp. in a research note on Thursday, August 4th. Dundee Securities reiterated a “buy” rating and issued a $17.50 target price on shares of Cameco Corp. in a report on Wednesday, August 10th. Vetr upgraded shares of Cameco Corp. from a “hold” rating to a “buy” rating and set a $11.12 target price on the stock in a report on Wednesday, June 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $17.00 target price (down from $20.00) on shares of Cameco Corp. in a report on Sunday, July 31st. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $17.00 target price (down from $20.00) on shares of Cameco Corp. in a report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.16.
Shares of Cameco Corp. (NYSE:CCJ) traded up 1.14% on Tuesday, hitting $8.00. 1,485,906 shares of the stock were exchanged. Cameco Corp. has a one year low of $7.45 and a one year high of $14.52. The company’s market cap is $3.17 billion. The firm’s 50-day moving average is $8.65 and its 200-day moving average is $10.53.
Cameco Corp. (NYSE:CCJ) last posted its earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.30. The firm had revenue of $466 million for the quarter, compared to analyst estimates of $568.78 million. Cameco Corp. had a negative net margin of 3.18% and a positive return on equity of 2.96%. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, equities analysts forecast that Cameco Corp. will post $0.70 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were paid a $0.0757 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, September 28th. Cameco Corp.’s dividend payout ratio is -206.65%.
Several large investors have recently made changes to their positions in the company. S&CO Inc. boosted its stake in shares of Cameco Corp. by 19.2% in the second quarter. S&CO Inc. now owns 88,570 shares of the company’s stock worth $972,000 after buying an additional 14,245 shares during the period. LPL Financial LLC raised its stake in shares of Cameco Corp. by 2.4% in the first quarter. LPL Financial LLC now owns 187,844 shares of the company’s stock worth $2,243,000 after buying an additional 4,468 shares in the last quarter. A.R.T. Advisors LLC raised its stake in shares of Cameco Corp. by 98.2% in the first quarter. A.R.T. Advisors LLC now owns 121,886 shares of the company’s stock worth $1,565,000 after buying an additional 60,400 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Cameco Corp. by 19.6% in the first quarter. Envestnet Asset Management Inc. now owns 62,980 shares of the company’s stock worth $809,000 after buying an additional 10,342 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Cameco Corp. by 0.9% in the first quarter. Legal & General Group Plc now owns 1,644,034 shares of the company’s stock worth $21,189,000 after buying an additional 14,179 shares in the last quarter. Institutional investors and hedge funds 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.
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