Cameco (NYSE:CCJ) Trading Down 7.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded down 7.2% during trading on Wednesday . The company traded as low as $93.83 and last traded at $94.9390. 6,915,513 shares were traded during trading, an increase of 83% from the average session volume of 3,773,537 shares. The stock had previously closed at $102.27.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Barclays began coverage on Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective on the stock. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Finally, William Blair began coverage on Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock’s 50 day simple moving average is $113.68 and its two-hundred day simple moving average is $108.92. The firm has a market capitalization of $41.35 billion, a PE ratio of 87.91, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same period last year, the company posted $0.16 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Corporation will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CCJ. Nisa Investment Advisors LLC purchased a new position in Cameco in the 4th quarter worth approximately $25,000. Founders Capital Management purchased a new stake in shares of Cameco during the 4th quarter valued at approximately $27,000. Strategic Advocates LLC purchased a new stake in shares of Cameco during the 3rd quarter valued at approximately $28,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Cameco during the 4th quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the period. 70.21% of the stock is owned by hedge funds and other 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.