Cameco Corporation (NYSE:CCJ) (TSE:CCO) was downgraded by investment analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research note issued on Monday.
Other research analysts also recently issued research reports about the company. BidaskClub upgraded Cameco Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded Cameco Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Royal Bank Of Canada started coverage on Cameco Corporation in a report on Thursday, June 29th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Bank of America Corporation downgraded Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.92.
Shares of Cameco Corporation (NYSE CCJ) opened at 9.72 on Monday. The firm has a 50-day moving average price of $9.45 and a 200-day moving average price of $10.66. Cameco Corporation has a 52 week low of $7.41 and a 52 week high of $13.36. The firm’s market capitalization is $3.85 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, meeting analysts’ consensus estimates of ($0.05). Cameco Corporation had a positive return on equity of 2.26% and a negative net margin of 6.47%. The business had revenue of $393 million for the quarter, compared to the consensus estimate of $351.40 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Cameco Corporation’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts expect that Cameco Corporation will post $0.29 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank increased its position in shares of Cameco Corporation by 4.3% in the fourth quarter. Comerica Bank now owns 49,300 shares of the basic materials company’s stock worth $655,000 after buying an additional 2,033 shares during the period. FMR LLC increased its position in shares of Cameco Corporation by 89.7% in the fourth quarter. FMR LLC now owns 233,000 shares of the basic materials company’s stock worth $2,437,000 after buying an additional 110,200 shares during the period. Norges Bank purchased a new position in shares of Cameco Corporation during the fourth quarter worth approximately $24,278,000. Beacon Financial Group purchased a new position in shares of Cameco Corporation during the first quarter worth approximately $763,000. Finally, Confluence Investment Management LLC boosted its stake in shares of Cameco Corporation by 39.8% in the first quarter. Confluence Investment Management LLC now owns 17,254 shares of the basic materials company’s stock worth $191,000 after buying an additional 4,915 shares in the last quarter. Hedge funds and other institutional investors own 56.61% 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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