BidaskClub cut shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) from a sell rating to a strong sell rating in a report published on Saturday morning.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Cameco Corporation from a buy rating to a strong sell rating in a report on Monday, March 13th. Credit Suisse Group reiterated a neutral rating on shares of Cameco Corporation in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Cameco Corporation currently has an average rating of Hold and an average price target of $14.67.
Shares of Cameco Corporation (NYSE:CCJ) traded up 0.33% during midday trading on Friday, reaching $9.17. The company’s stock had a trading volume of 1,408,458 shares. Cameco Corporation has a 12-month low of $7.41 and a 12-month high of $13.36. The stock’s 50-day moving average price is $9.57 and its 200-day moving average price is $10.69. The company’s market cap is $3.63 billion.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, April 28th. The basic materials company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Cameco Corporation had a positive return on equity of 2.26% and a negative net margin of 6.47%. The company had revenue of $393 million for the quarter, compared to the consensus estimate of $351.40 million. During the same quarter in the prior year, the business earned ($0.02) EPS. Cameco Corporation’s revenue was down 3.7% on a year-over-year basis. On average, analysts expect that Cameco Corporation will post $0.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.0741 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.23%. Cameco Corporation’s payout ratio is currently -100.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec acquired a new position in Cameco Corporation during the first quarter worth approximately $72,208,000. Beutel Goodman & Co Ltd. boosted its stake in shares of Cameco Corporation by 34.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 23,791,112 shares of the basic materials company’s stock worth $262,895,000 after buying an additional 6,088,870 shares during the period. Wellington Management Group LLP boosted its stake in shares of Cameco Corporation by 1,990.6% in the first quarter. Wellington Management Group LLP now owns 6,283,068 shares of the basic materials company’s stock worth $69,366,000 after buying an additional 5,982,525 shares during the period. Global X Management Co. LLC boosted its stake in shares of Cameco Corporation by 111.9% in the first quarter. Global X Management Co. LLC now owns 5,969,764 shares of the basic materials company’s stock worth $65,891,000 after buying an additional 3,152,321 shares during the period. Finally, Norges Bank purchased a new stake in shares of Cameco Corporation during the fourth quarter worth about $24,278,000. Institutional investors and hedge funds own 56.88% 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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