Cameco (NYSE:CCJ) Stock Price Down 6.7%

Cameco Co. (NYSE:CCJ) (TSE:CCO) dropped 6.7% on Tuesday . The company traded as low as $45.75 and last traded at $46.10. Approximately 2,924,301 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 5,015,604 shares. The stock had previously closed at $49.42.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of analyst reports. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. The Goldman Sachs Group assumed coverage on Cameco in a research note on Monday, April 1st. They set a “buy” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.75.

Cameco Price Performance

The company has a 50 day moving average of $44.76 and a 200-day moving average of $44.20. The stock has a market capitalization of $20.37 billion, a P/E ratio of 120.31 and a beta of 0.92. The company has a quick ratio of 0.97, a current ratio of 1.55 and a debt-to-equity ratio of 0.21.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a return on equity of 4.61% and a net margin of 9.28%. The firm had revenue of $620.00 million for the quarter. Sell-side analysts predict that Cameco Co. will post 1.54 EPS for the current year.

Institutional Investors Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its position in Cameco by 235.3% in the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after buying an additional 400 shares during the period. Principal Securities Inc. acquired a new position in shares of Cameco during the fourth quarter valued at $29,000. Allworth Financial LP increased its holdings in shares of Cameco by 1,049.2% during the third quarter. Allworth Financial LP now owns 747 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 682 shares during the period. Versant Capital Management Inc acquired a new position in shares of Cameco during the fourth quarter valued at $34,000. Finally, Sandy Spring Bank acquired a new position in shares of Cameco during the fourth quarter valued at $43,000. 70.21% of the stock is owned by institutional investors and hedge funds.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.