Cameco Corporation (USA) (CCJ) is Downgraded by BofA/Merrill to Underperform

Cameco Corporation (USA) (CCJ) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 21, 2016.

On the company’s financial health, Cameco Corporation (USA) reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Oct 30, 2015. Analyst had a consensus of $0.30. The company had revenue of $649.00 million for the quarter, compared to analysts expectations of $670.40 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Cameco Corporation (USA) opened for trading at $10.53 and hit $10.7 on the upside on Wednesday, eventually ending the session at $10.61, with a gain of 0.19% or 0.02 points. The heightened volatility saw the trading volume jump to 12,35,685 shares. Company has a market cap of $4,199 M.

Cameco Corporation (Cameco) 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. The uranium segment involves the exploration for mining milling purchase and sale of uranium concentrate. The fuel services segment involves the refining conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. The NUKEM segment acts as a market intermediary between uranium producers and nuclear-electric utilities. Cameco conducts a portion of its exploration development mining and milling activities through joint operations located around the world. Cameco’s Canadian uranium joint operation interests are McArthur River Key Lake and Cigar Lake.

Cameco Corporation (USA)

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