BMO Capital Markets Lowers Cameco (CCJ) to Market Perform

Cameco (NYSE:CCJ) (TSE:CCO) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, July 26th, Marketbeat.com reports. They presently have a $15.00 price target on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 39.28% from the stock’s previous close.

A number of other research analysts also recently issued reports on CCJ. ValuEngine raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. TD Securities downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. TheStreet upgraded shares of Cameco from a “d+” rating to a “c-” rating in a research note on Tuesday, April 24th. Finally, Royal Bank of Canada cut shares of Cameco from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, May 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Cameco presently has an average rating of “Hold” and an average price target of $18.00.

Cameco opened at $10.77 on Thursday, Marketbeat.com reports. The stock has a market capitalization of $4.37 billion, a P/E ratio of 89.75 and a beta of 1.09. Cameco has a 12 month low of $7.68 and a 12 month high of $12.19. The company has a current ratio of 6.16, a quick ratio of 3.58 and a debt-to-equity ratio of 0.31.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 25th. The basic materials company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $333.00 million for the quarter, compared to analysts’ expectations of $392.80 million. Cameco had a negative net margin of 10.03% and a positive return on equity of 1.61%. The company’s revenue for the quarter was down 29.1% on a year-over-year basis. During the same period last year, the business posted ($0.11) EPS. equities research analysts expect that Cameco will post 0.26 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Cameco by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 428,665 shares of the basic materials company’s stock worth $3,958,000 after acquiring an additional 24,577 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Cameco in the 4th quarter worth $641,000. Renaissance Technologies LLC increased its holdings in Cameco by 138.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,729,604 shares of the basic materials company’s stock worth $15,976,000 after acquiring an additional 1,003,804 shares in the last quarter. Raymond James & Associates increased its holdings in Cameco by 25.3% in the 4th quarter. Raymond James & Associates now owns 79,862 shares of the basic materials company’s stock worth $737,000 after acquiring an additional 16,103 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Cameco by 510.6% in the 4th quarter. Glenmede Trust Co. NA now owns 13,390 shares of the basic materials company’s stock worth $122,000 after acquiring an additional 11,197 shares in the last quarter. 53.17% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.

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Analyst Recommendations for Cameco (NYSE:CCJ)

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