January 18, 2017 / 4:06 PM / 2 years ago

BUZZ-Cameco Corp: Set for worst day in 6 years on loss forecast

** Canadian uranium producer’s shares sink 12.5 pct to C$15.13, set for their worst day in six years

** Stock is top pct loser on Canada’s main index ; volume of 3.4 mln shares is 1.6x times their 30-day moving avg

** Cameco forecast a net loss for 2016 and 2016 adjusted profit significantly lower than analysts’ estimates

** BMO Capital Markets cuts rating to “market perform”, saying “reduced adjusted earnings may put a cap on the stock at current levels without a continued increase in uranium prices”

** CCO trades at 31x next 12 months earnings vs 24.6x for First Quantum, 5.9x for Teck Resources ; Ur-Energy trades at 45.4x, per TR data

** BMO ups PT by C$2 to C$17, roughly in line with analysts’ median PT of C$16.48; 8 brokerages rate CCO “buy” or higher, 4 “hold”

** Wednesday’s drop cuts CCO’s YTD gains to 7.7 pct; stock fell 17.8 pct in 2016, the steepest drop in a 3-yr losing streak

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