Recent Posts
Recent Comments
Popular Articles
About Uranium Stocks
Uranium Stocks was created to give investors a diversified look at uranium shares, spot prices, options markets, ore and production, canadian reverses and any other relevant issues that may affect shares prices across the globe.
Cameco Down via Centerra Downgrade
Posted by
webmaster in
Cameco, Uranium News, Uranium Stocks, downgrades on
06 11th, 2008 |
no responses Cameco Down via Centerra Downgrade
Uranium producer Cameco has had a bite taken out of it and this time not due to uranium prices.
Centerra Gold, which is controlled by Cameco, received a downgrade from Stephen Walker at RBC Capital on June 10th. The stock was downgraded to sector perform from its previous grading of outperform.
Walker’s price target also declined $2, down to $10, which might I add is still over 20% higher than the share price before the downgrade.
Walker’s reasoning behind the downgrade was the uncertainty over the ownership and tax rates for the Kumtor mine located in the Kyrgyz Republic. Off of this news Cameco approximately 8.5% tuesday. Currently Cameco has gained back roughly 1% today.
Centerra on the other hand has dropped from a high of $8.20 on friday to a current price of $6.90.
