Cameco (NYSE:CCJ) (TSE:CCO) released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04), MarketWatch Earnings reports. Cameco had a net margin of 4.72% and a return on equity of 3.13%. The firm had revenue of $297.50 million during the quarter, compared to analyst estimates of $392.93 million. During the same quarter last year, the firm earned $0.06 earnings per share. Cameco’s quarterly revenue was down 32.3% on a year-over-year basis. Cameco updated its FY 2019 guidance to EPS.
CCJ stock traded down $0.18 during trading hours on Friday, reaching $10.03. The stock had a trading volume of 1,784,593 shares, compared to its average volume of 1,915,835. The stock has a market cap of $4.04 billion, a P/E ratio of 25.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.38 and a quick ratio of 1.84. Cameco has a fifty-two week low of $9.39 and a fifty-two week high of $13.04.
A number of equities research analysts recently weighed in on CCJ shares. Zacks Investment Research raised shares of Cameco from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Raymond James reaffirmed a “buy” rating on shares of Cameco in a research note on Thursday, May 2nd. TD Securities cut shares of Cameco from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Cameco in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.67.
A number of hedge funds have recently made changes to their positions in CCJ. Vaughan Nelson Investment Management L.P. raised its position in shares of Cameco by 1.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 7,663,824 shares of the basic materials company’s stock valued at $86,984,000 after purchasing an additional 114,905 shares during the period. BlackRock Inc. raised its position in shares of Cameco by 2.1% in the fourth quarter. BlackRock Inc. now owns 218,299 shares of the basic materials company’s stock valued at $2,478,000 after purchasing an additional 4,558 shares during the period. AlphaCrest Capital Management LLC bought a new position in Cameco during the fourth quarter worth about $129,000. S&CO Inc. increased its position in Cameco by 6.3% during the fourth quarter. S&CO Inc. now owns 554,020 shares of the basic materials company’s stock worth $6,288,000 after acquiring an additional 33,065 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Cameco by 295.8% during the third quarter. JPMorgan Chase & Co. now owns 603,408 shares of the basic materials company’s stock worth $6,879,000 after acquiring an additional 450,970 shares during the period. Hedge funds and other institutional investors own 52.34% of the company’s stock.
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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