Cameco Corp. (CCJ) Shares Up 2.4%
Cameco Corp. (NYSE:CCJ)’s share price shot up 2.4% on Tuesday . The company traded as high as $9.56 and last traded at $9.36, with a volume of 1,672,975 shares. The stock had previously closed at $9.14.
A number of research firms have recently weighed in on CCJ. Zacks Investment Research upgraded Cameco Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Vetr upgraded Cameco Corp. from a “hold” rating to a “buy” rating and set a $11.88 price target for the company in a report on Thursday, May 19th. Royal Bank Of Canada lowered their price target on Cameco Corp. from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, July 26th. BMO Capital Markets reiterated an “outperform” rating and set a $17.00 price target (down from $20.00) on shares of Cameco Corp. in a report on Sunday. Finally, Scotiabank cut Cameco Corp. from an “outperform” rating to a “sector perform” rating in a report on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.18.
The company’s market cap is $3.78 billion. The stock’s 50 day moving average price is $10.59 and its 200-day moving average price is $11.69.
Cameco Corp. (NYSE:CCJ) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.30. The firm earned $466 million during the quarter, compared to the consensus estimate of $568.78 million. During the same period last year, the business posted $0.12 earnings per share. The firm’s revenue was down 17.5% on a year-over-year basis. On average, equities research analysts expect that Cameco Corp. will post $0.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.0757 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.30 annualized dividend and a yield of 3.19%.
A number of institutional investors have added to or reduced their stakes in the stock. I.G. Investment Management LTD. raised its position in Cameco Corp. by 9.5% in the fourth quarter. I.G. Investment Management LTD. now owns 871,725 shares of the company’s stock valued at $10,760,000 after buying an additional 75,950 shares during the last quarter. Schroder Investment Management Group raised its position in Cameco Corp. by 108.7% in the fourth quarter. Schroder Investment Management Group now owns 491,100 shares of the company’s stock valued at $8,383,000 after buying an additional 255,800 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Cameco Corp. by 9.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,051,889 shares of the company’s stock valued at $12,970,000 after buying an additional 86,770 shares during the last quarter.
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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