NEW YORK (TheStreet) -- Shares of Cameco (CCJ) - Get Cameco Corporation Report were falling 3.6% to $16.87 Wednesday after the uranium producer missed analysts' estimates for revenue in the third quarter.
The company reported earnings of 23 Canadian cents a share for the third quarter, beating the Capital IQ Consensus of 22 Canadian cents a share. Revenue fell 1.7% year over year to C$587 million for the quarter, below analysts' estimates of C$607.71 million.
Cameo lowered its 2014 revenue guidance to flat to a drop of 5%, down from an increase of 5% to 10%. The new guidance calls for revenue of about C$2.32 billion to C$2.44 billion, compared to analysts's estimates of C$2.32 billion for the year.
TheStreet Ratings team rates CAMECO CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CAMECO CORP (CCJ) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."
You can view the full analysis from the report here: CCJ Ratings Report