Cameco (NYSE:CCJ) Stock Price Down 2.1%

Cameco Co. (NYSE:CCJ) (TSE:CCO) was down 2.1% during mid-day trading on Friday . The stock traded as low as $39.68 and last traded at $39.87. Approximately 843,651 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,336,731 shares. The stock had previously closed at $40.74.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CCJ shares. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group raised their target price on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank cut their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Down 1.0 %

The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 103.41 and a beta of 0.90. The business’s 50-day moving average is $42.79 and its two-hundred day moving average is $46.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities analysts anticipate that Cameco Co. will post 0.96 earnings per share for the current year.

Institutional Trading of Cameco

Several hedge funds have recently bought and sold shares of CCJ. Principal Securities Inc. acquired a new stake in Cameco during the 4th quarter worth approximately $29,000. Dimensional Fund Advisors LP raised its holdings in Cameco by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 504,348 shares of the basic materials company’s stock worth $21,737,000 after buying an additional 1,857 shares during the period. Principal Financial Group Inc. acquired a new stake in Cameco during the 4th quarter worth approximately $685,000. Avantax Advisory Services Inc. raised its holdings in Cameco by 30.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,004 shares of the basic materials company’s stock worth $1,207,000 after buying an additional 6,509 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Cameco by 12.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 10,877 shares of the basic materials company’s stock worth $469,000 after buying an additional 1,238 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.