Cameco (NYSE:CCJ) Stock Price Down 1.9% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded down 1.9% on Wednesday . The company traded as low as $108.82 and last traded at $109.4020. 2,670,959 shares changed hands during trading, a decline of 39% from the average session volume of 4,405,696 shares. The stock had previously closed at $111.52.

Analyst Ratings Changes

Several research firms have commented on CCJ. Royal Bank Of Canada boosted their target price on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Glj Research reissued a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.40.

Cameco Stock Down 1.9%

The company has a market capitalization of $47.65 billion, a PE ratio of 112.79 and a beta of 0.98. The business’s 50-day simple moving average is $116.94 and its 200-day simple moving average is $98.40. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

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

Institutional Investors Weigh In On Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Norges Bank acquired a new stake in shares of Cameco during the fourth quarter worth about $443,265,000. TD Asset Management Inc grew its holdings in shares of Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after buying an additional 2,071,373 shares in the last quarter. Marshall Wace LLP grew its position in shares of Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after buying an additional 1,644,061 shares in the last quarter. 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.