Cameco (CCJ) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Cameco (NYSE:CCJ) (TSE:CCO) from a neutral rating to a buy rating in a report published on Monday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. TD Securities raised shares of Cameco from a hold rating to a buy rating in a research report on Thursday, July 26th. Zacks Investment Research raised shares of Cameco from a hold rating to a buy rating and set a $13.00 price target for the company in a research report on Monday, November 12th. TheStreet raised shares of Cameco from a d+ rating to a c rating in a research report on Monday, November 5th. Rosenblatt Securities downgraded shares of Cameco to a hold rating in a research report on Monday, November 5th. Finally, BMO Capital Markets downgraded shares of Cameco from an outperform rating to a market perform rating and set a $15.00 price target for the company. in a research report on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cameco has an average rating of Hold and an average price target of $15.00.

Shares of CCJ opened at $11.91 on Monday. The company has a market cap of $4.68 billion, a P/E ratio of 99.25 and a beta of 1.02. The company has a quick ratio of 1.57, a current ratio of 2.14 and a debt-to-equity ratio of 0.21. Cameco has a twelve month low of $8.34 and a twelve month high of $12.78.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, November 2nd. The basic materials company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $576.92 million. Cameco had a negative net margin of 2.65% and a positive return on equity of 3.99%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) earnings per share. On average, sell-side analysts anticipate that Cameco will post 0.02 EPS for the current fiscal year.

The business also recently announced an annual dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.0608 dividend. This represents a yield of 0.49%. The ex-dividend date is Thursday, November 29th. Cameco’s dividend payout ratio (DPR) is presently 66.67%.

A number of large investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. grew its position in Cameco by 19.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 7,548,919 shares of the basic materials company’s stock worth $86,059,000 after purchasing an additional 1,221,880 shares during the period. Exor Investments UK LLP grew its position in Cameco by 31.7% in the 2nd quarter. Exor Investments UK LLP now owns 5,967,410 shares of the basic materials company’s stock worth $67,133,000 after purchasing an additional 1,435,286 shares during the period. Morgan Stanley grew its position in Cameco by 1.1% in the 2nd quarter. Morgan Stanley now owns 4,497,101 shares of the basic materials company’s stock worth $50,593,000 after purchasing an additional 50,015 shares during the period. Russell Investments Group Ltd. grew its position in Cameco by 23.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,403,105 shares of the basic materials company’s stock worth $50,161,000 after purchasing an additional 835,328 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Cameco by 71.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,809,063 shares of the basic materials company’s stock worth $42,826,000 after purchasing an additional 1,593,300 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

About Cameco

Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.

See Also: Buyback

The Fly

Analyst Recommendations for Cameco (NYSE:CCJ)

Receive News & Ratings for Cameco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cameco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply