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. “
CCJ has been the subject of several other reports. TD Securities lowered Cameco from a buy rating to a hold rating in a research note on Thursday, May 2nd. Raymond James reissued a buy rating on shares of Cameco in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reissued a hold rating on shares of Cameco in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Cameco has a consensus rating of Hold and an average target price of $14.67.
Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Cameco had a net margin of 4.72% and a return on equity of 3.13%. The firm had revenue of $297.50 million for the quarter, compared to analyst estimates of $392.93 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was down 32.3% compared to the same quarter last year. As a group, research analysts expect that Cameco will post 0.03 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Pinnacle Financial Partners Inc. bought a new stake in shares of Cameco during the 1st quarter worth $29,000. Truvestments Capital LLC acquired a new stake in shares of Cameco in the first quarter worth $39,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Cameco in the first quarter worth $41,000. Acadian Asset Management LLC acquired a new stake in shares of Cameco in the first quarter worth $61,000. Finally, Kore Private Wealth LLC acquired a new stake in shares of Cameco in the first quarter worth $105,000. 51.64% of the stock is owned by institutional investors and hedge funds.
Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.
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