Cameco (NYSE:CCJ) Shares Down 1.2% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was down 1.2% on Wednesday . The stock traded as low as $119.45 and last traded at $119.6550. Approximately 3,238,262 shares were traded during trading, a decline of 30% from the average daily volume of 4,619,511 shares. The stock had previously closed at $121.08.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Royal Bank Of Canada raised their target price on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. National Bank Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Finally, UBS Group initiated coverage on shares of Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Trading Down 1.2%

The stock has a fifty day simple moving average of $110.04 and a 200 day simple moving average of $94.12. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $52.11 billion, a P/E ratio of 123.36 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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 business had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. As a group, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the stock. Financial Consulate Inc. bought a new position in shares of Cameco during the 3rd quarter valued at approximately $25,000. Nisa Investment Advisors LLC bought a new position in shares of Cameco during the 4th quarter valued at approximately $25,000. Founders Capital Management purchased a new stake in Cameco during the 4th quarter valued at $27,000. Strategic Advocates LLC bought a new stake in Cameco in the third quarter worth $28,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Cameco in the fourth quarter worth $28,000. Hedge funds and other institutional investors 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.