Cameco (NYSE:CCJ) Stock Price Down 5% – What’s Next?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were down 5% during trading on Thursday . The company traded as low as $111.05 and last traded at $114.20. Approximately 3,826,391 shares were traded during trading, a decline of 15% from the average daily volume of 4,497,947 shares. The stock had previously closed at $120.24.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. National Bank Financial reiterated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Glj Research reiterated a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, UBS Group started coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cameco has a consensus rating of “Moderate Buy” and an average price target of $143.03.

Cameco Stock Performance

The stock has a market cap of $49.74 billion, a P/E ratio of 117.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The stock has a 50-day simple moving average of $113.61 and a 200-day simple moving average of $95.82.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. Research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its position in shares of Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after purchasing an additional 85 shares in the last quarter. Legacy Bridge LLC raised its holdings in shares of Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares during the period. Groupama Asset Managment lifted its stake in Cameco by 5.9% in the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after purchasing an additional 108 shares during the last quarter. S.A. Mason LLC grew its holdings in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 111 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 112 shares during the period. 70.21% of the stock is owned by institutional investors.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.