Cameco (NYSE:CCJ) Shares Down 3.9% – What’s Next?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 3.9% on Tuesday . The company traded as low as $95.55 and last traded at $96.9190. 4,903,335 shares traded hands during mid-day trading, an increase of 0% from the average session volume of 4,883,922 shares. The stock had previously closed at $100.85.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. BMO Capital Markets reissued an “outperform” rating on shares of Cameco in a report on Friday, August 29th. Wall Street Zen raised Cameco from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. The Goldman Sachs Group increased their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada increased their price objective on Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $102.61.

Cameco Trading Down 3.9%

The company has a market cap of $42.20 billion, a price-to-earnings ratio of 111.40 and a beta of 0.99. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $85.39 and its 200 day moving average is $72.14.

Institutional Trading of Cameco

Several institutional investors have recently bought and sold shares of CCJ. Bison Wealth LLC grew its holdings in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Cameco by 30.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,183 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 1,908 shares during the period. DAVENPORT & Co LLC grew its holdings in Cameco by 50.3% in the first quarter. DAVENPORT & Co LLC now owns 15,531 shares of the basic materials company’s stock valued at $639,000 after purchasing an additional 5,200 shares during the period. Private Trust Co. NA grew its holdings in Cameco by 315.2% in the first quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 933 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of Cameco by 13.8% in the first quarter. OneDigital Investment Advisors LLC now owns 23,953 shares of the basic materials company’s stock worth $986,000 after acquiring an additional 2,912 shares during the last quarter. 70.21% of the stock is 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.