Cameco (NYSE:CCJ) Announces Quarterly Earnings Results
Cameco (NYSE:CCJ) (TSE:CCO) posted its earnings results on Wednesday. The basic materials company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.11), Briefing.com reports. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $414.76 million. Cameco had a net margin of 3.86% and a return on equity of 2.10%. Cameco’s revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) EPS.
Cameco stock traded down $0.32 during midday trading on Thursday, hitting $10.20. The stock had a trading volume of 221,007 shares, compared to its average volume of 2,573,017. The firm’s fifty day moving average is $10.70 and its two-hundred day moving average is $9.41. The company has a market capitalization of $4.04 billion, a PE ratio of 72.86 and a beta of 0.90. Cameco has a 52-week low of $5.30 and a 52-week high of $12.33. The company has a current ratio of 5.58, a quick ratio of 4.56 and a debt-to-equity ratio of 0.20.
Several research firms have issued reports on CCJ. Royal Bank of Canada restated a “hold” rating and set a $14.00 target price on shares of Cameco in a research note on Thursday. CIBC upgraded shares of Cameco from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 1st. Raymond James reiterated a “buy” rating and issued a $14.50 price objective on shares of Cameco in a research note on Thursday, April 9th. BMO Capital Markets increased their price objective on shares of Cameco from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, ValuEngine cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $13.92.
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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