Cameco (NYSE:CCJ) Shares Down 4.1% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) fell 4.1% during mid-day trading on Thursday . The company traded as low as $104.30 and last traded at $104.6020. 2,528,840 shares changed hands during trading, a decline of 41% from the average session volume of 4,317,184 shares. The stock had previously closed at $109.02.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research reports. Glj Research restated a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce upped their target price on Cameco to $202.00 in a report on Monday, March 9th. Royal Bank Of Canada raised their price target on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Performance

The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $45.56 billion, a PE ratio of 107.84 and a beta of 0.98. The stock’s 50 day moving average price is $116.82 and its two-hundred day moving average price is $99.52.

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

Institutional Trading of Cameco

A number of large investors have recently made changes to their positions in the stock. Clearstead Advisors LLC raised its stake in Cameco by 0.8% in the 4th 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 during the last quarter. Legacy Bridge LLC boosted its stake in shares of Cameco by 0.9% during 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 last quarter. Groupama Asset Managment boosted its stake in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares during the last quarter. S.A. Mason LLC grew its holdings in shares of Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after buying an additional 111 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Cameco by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.