Bank of America Downgrades Cameco Corporation (USA) to Neutral

Brokerage firm Bank of America Downgrades its rating on Cameco Corporation (USA)(NYSE:CCJ). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Bank of America was issued on Jul 21, 2016.

Cameco Corporation (USA) (CCJ) made into the market gainers list on Wednesdays trading session with the shares advancing 0.19% or 0.02 points. Due to strong positive momentum, the stock ended at $10.61, which is also near the day’s high of $10.7. The stock began the session at $10.53 and the volume stood at 12,35,685 shares. The 52-week high of the shares is $14.79 and the 52 week low is $10.31. The company has a current market capitalization of $4,199 M and it has 39,57,92,520 shares in outstanding.

Cameco Corporation (USA)(CCJ) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $408.00M. Analysts had an estimated revenue of $595.06M. Earnings per share were $-0.02. Analysts had estimated an EPS of $0.15.

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.

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