Cameco (NYSE:CCJ) Stock Price Down 3% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares fell 3% during mid-day trading on Thursday . The stock traded as low as $102.17 and last traded at $103.4220. 2,964,738 shares traded hands during trading, a decline of 20% from the average daily volume of 3,719,216 shares. The stock had previously closed at $106.64.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Canadian Imperial Bank of Commerce lifted their price target on shares of Cameco to $202.00 in a report on Monday, March 9th. Barclays assumed coverage on shares of Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective for the company. Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Finally, William Blair started coverage on shares of 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 issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.42.

Cameco Stock 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 has a 50 day moving average of $112.05 and a 200 day moving average of $110.27. The stock has a market capitalization of $45.04 billion, a P/E ratio of 95.76, a P/E/G ratio of 1.99 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same period last year, the business posted $0.16 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Cameco Corporation will post 1.21 EPS for the current year.

Institutional Trading of Cameco

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

Cameco Company Profile

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.