Published: Sat, October 28, 2017
Markets | By Rosalie Gross

Cameco shares tumble as uranium giant lowers price forecasts

Cameco shares tumble as uranium giant lowers price forecasts

The stock has a consensus rating of "Buy" and an average target price of $15.03. Usca Ria LLC raised its holdings in Cameco Corporation by 4.6% in the 2nd quarter.

Cameco Corp. (TSX: T.CCO, NYSE: CCJ, Forum) shares tumbled Friday after the Canadian uranium giant released its third quarter financial results that were well below street estimates. Their shares trade on the Toronto and NY stock exchanges. For the quarter, shares have been noted at -16.29%. The company has a market cap of $5.22 billion, a PE ratio of 97.06 and a beta of 1.49.

Saskatchewan-based Cameco's third-quarter uranium sales volume fell 1 percent to 9.2 million pounds, and its average realized price for the metal fell 26 per cent to $41.66 per pound. Looking back over the last month, shares have performed -10.28%. Finally, Hollencrest Securities LLC purchased a new stake in Cameco Corporation in the 2nd quarter worth $155,000. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. Creative Planning raised its holdings in Cameco Corporation by 55.3% in the 2nd quarter. Cameco Corporation has a 12-month low of $7.41 and a 12-month high of $13.36. Cameco Corp (TSE:CCO) has 0.00% since October 26, 2016 and is.

Revenue for the company fell 27 per cent this quarter, from $670 million in 2016 to $486 million for the three months ended September 30.

The company now expects full-year production of 24 million pounds, compared with its previous forecast of 25.2 million pounds.

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Cameco Corporation (CCJ) opened at 8.84 on Friday.

On 7/28/2017 announced a quarterly dividend of $0.08 3.07% with an ex dividend date of 9/28/2017 which will be payable on 9/29/2017. For the past 5 days of trading, the stock has seen a move of -2.31%. On average, equities research analysts predict that Cameco Corporation will post $0.64 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. Guardian Capital Advisors LP increased its position in Cameco Corporation by 21.7% in the 2nd quarter.

Cameco posted 3.1 million pounds of uranium produced for this year's quarter, compared to 5.9 million pounds this time in 2016. Vanguard Group Inc. now owns 8,131,261 shares of the company's stock valued at $89,200,000 after buying an additional 813,573 shares during the period. If you are viewing this article on another website, it was stolen and republished in violation of US & global trademark and copyright laws. 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. Institutional investors and hedge funds own 56.44% of the company's stock.

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