Cameco (NYSE:CCJ) Trading Down 2.6% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $110.12 and last traded at $112.4010. 3,124,724 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 3,860,001 shares. The stock had previously closed at $115.39.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Glj Research reaffirmed a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Royal Bank Of Canada raised their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Finally, Weiss Ratings lowered shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Stock Down 4.4%

The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 99.61, a P/E/G ratio of 1.90 and a beta of 1.04. The business’s 50-day moving average is $114.26 and its two-hundred day moving average is $107.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. On average, equities analysts anticipate that Cameco Corporation will post 1.32 earnings per share for the current year.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC acquired a new stake in Cameco during the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC acquired a new stake in Cameco during the 4th quarter worth approximately $25,000. Brown Lisle Cummings Inc. raised its holdings in Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after buying an additional 288 shares during the period. Founders Capital Management acquired a new stake in Cameco during the 4th quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Cameco during the 4th quarter worth approximately $28,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.