Cameco (NYSE:CCJ) Trading Down 3.9% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares fell 3.9% during trading on Wednesday . The stock traded as low as $114.31 and last traded at $115.3730. 3,366,464 shares were traded during mid-day trading, a decline of 25% from the average session volume of 4,460,012 shares. The stock had previously closed at $120.08.

Analyst Upgrades and Downgrades

CCJ has been the topic of several research reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Glj Research reiterated a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada increased their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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 company has a market cap of $50.25 billion, a P/E ratio of 118.94 and a beta of 0.98. The business’s 50 day simple moving average is $115.41 and its 200 day simple moving average is $97.15.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping 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 in the prior year, the business posted $0.36 earnings per share. Sell-side analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Cameco in the 4th quarter worth approximately $443,265,000. TD Asset Management Inc lifted its holdings in shares of Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings 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 worth $524,988,000 after buying an additional 2,071,373 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake 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 valued at $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. 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.