Trading Report: The Cameco Corp. (CCJ) Lowered to Strong Sell at Zacks Investment Research

The Cameco Corp. (CCJ) Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Cameco Corp. (NYSE:CCJ) from a hold rating to a strong sell rating in a report issued on Tuesday.

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 equities research analysts have also issued research reports about the company. Vetr upgraded Cameco Corp. from a hold rating to a buy rating and set a $12.00 price objective on the stock in a research report on Tuesday, June 14th. Paradigm Capital reiterated a buy rating and issued a $19.50 price target (down previously from $25.50) on shares of Cameco Corp. in a research report on Thursday, August 4th. Dundee Securities reiterated a buy rating and issued a $17.50 price target on shares of Cameco Corp. in a research report on Wednesday, August 10th. BMO Capital Markets reiterated an outperform rating and issued a $17.00 price target (down previously from $20.00) on shares of Cameco Corp. in a research report on Sunday, July 31st. Finally, RBC Capital Markets reiterated an outperform rating and issued a $17.00 price target (down previously from $20.00) on shares of Cameco Corp. in a research report on Tuesday, July 26th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $16.86.

Shares of Cameco Corp. (NYSE:CCJ) opened at 7.84 on Tuesday. Cameco Corp. has a 52 week low of $7.83 and a 52 week high of $14.52. The company has a 50 day moving average price of $8.83 and a 200 day moving average price of $10.67. The company’s market cap is $3.10 billion.

Cameco Corp. (NYSE:CCJ) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.14) earnings per share 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 the consensus estimate of $568.78 million. Cameco Corp. had a positive return on equity of 2.96% and a negative net margin of 3.18%. The company’s revenue was down 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, equities analysts expect that Cameco Corp. will post $0.70 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.0757 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Wednesday, September 28th. Cameco Corp.’s dividend payout ratio (DPR) is currently -206.65%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CCJ. Jarislowsky Fraser Ltd increased its position in Cameco Corp. by 1.7% in the second quarter. Jarislowsky Fraser Ltd now owns 17,180,015 shares of the company’s stock worth $250,539,000 after buying an additional 293,494 shares during the period. Vanguard Group Inc. increased its position in Cameco Corp. by 11.1% in the second quarter. Vanguard Group Inc. now owns 8,131,261 shares of the company’s stock worth $89,200,000 after buying an additional 813,573 shares during the period. Kopernik Global Investors LLC increased its position in Cameco Corp. by 16.2% in the second quarter. Kopernik Global Investors LLC now owns 7,244,713 shares of the company’s stock worth $79,476,000 after buying an additional 1,009,035 shares during the period. AQR Capital Management LLC increased its position in Cameco Corp. by 31.4% in the second quarter. AQR Capital Management LLC now owns 7,037,742 shares of the company’s stock worth $76,897,000 after buying an additional 1,681,056 shares during the period. Finally, Allianz Asset Management AG increased its position in Cameco Corp. by 2.1% in the second quarter. Allianz Asset Management AG now owns 5,579,792 shares of the company’s stock worth $60,967,000 after buying an additional 116,317 shares during the period. 55.84% of the stock is currently owned by institutional investors and hedge funds.

About Cameco Corp.

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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