The Cameco Corp. (CCJ) Lowered to Hold at BMO Capital Markets

The Cameco Corp. (CCJ) Lowered to Hold at BMO Capital Markets

BMO Capital Markets cut shares of Cameco Corp. (NYSE:CCJ) (TSE:CCO) to a hold rating in a research report released on Wednesday.

A number of other brokerages have also issued reports on CCJ. Zacks Investment Research raised Cameco Corp. from a hold rating to a buy rating and set a $15.00 target price on the stock in a research report on Tuesday. TD Securities raised Cameco Corp. to a buy rating in a research report on Thursday, January 12th. Bank of America Corp. raised Cameco Corp. from an underperform rating to a neutral rating in a research report on Thursday, January 12th. Vetr lowered Cameco Corp. from a strong-buy rating to a buy rating and set a $11.84 price target on the stock. in a research report on Monday, December 12th. Finally, Scotiabank reissued a sector perform rating and set a $12.50 price target on shares of Cameco Corp. in a research report on Saturday, November 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $15.63.

Cameco Corp. (NYSE:CCJ) traded up 9.31% during trading on Wednesday, reaching $11.86. 6,424,684 shares of the company were exchanged. The stock has a market capitalization of $4.69 billion, a PE ratio of 86.57 and a beta of 1.49. The firm’s 50 day moving average is $10.71 and its 200 day moving average is $9.50. Cameco Corp. has a 52-week low of $7.41 and a 52-week high of $13.59.

Cameco Corp. (NYSE:CCJ) last announced its earnings results on Wednesday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. Cameco Corp. had a return on equity of 3.70% and a net margin of 2.73%. The company had revenue of $670 million for the quarter, compared to analyst estimates of $494.13 million. During the same period in the prior year, the company posted $0.20 EPS. Cameco Corp.’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Cameco Corp. will post $0.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a $0.0746 dividend. The ex-dividend date was Wednesday, December 28th. This represents a $0.30 annualized dividend and a dividend yield of 2.75%. Cameco Corp.’s payout ratio is 214.29%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Cameco Corp. by 2.7% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,814,780 shares of the company’s stock valued at $54,132,000 after buying an additional 98,900 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in Cameco Corp. by 0.4% in the second quarter. Tocqueville Asset Management L.P. now owns 1,385,724 shares of the company’s stock valued at $15,201,000 after buying an additional 5,075 shares during the last quarter. Kopernik Global Investors LLC boosted its position in Cameco Corp. by 7.5% in the third quarter. Kopernik Global Investors LLC now owns 7,788,481 shares of the company’s stock valued at $66,670,000 after buying an additional 543,768 shares during the last quarter. Schroder Investment Management Group boosted its position in Cameco Corp. by 379.3% in the third quarter. Schroder Investment Management Group now owns 3,149,000 shares of the company’s stock valued at $35,301,000 after buying an additional 2,492,000 shares during the last quarter. Finally, TD Asset Management Inc. boosted its position in Cameco Corp. by 2.2% in the third quarter. TD Asset Management Inc. now owns 3,365,295 shares of the company’s stock valued at $28,704,000 after buying an additional 72,292 shares during the last quarter. 54.03% of the stock is owned by institutional investors.

About Cameco Corp.

Cameco Corp (Cameco) is a Canada-based 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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