Cameco (NYSE:CCJ) Stock Price Down 1.6% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were down 1.6% on Tuesday . The company traded as low as $99.80 and last traded at $101.7940. Approximately 3,229,849 shares were traded during trading, a decline of 13% from the average daily volume of 3,694,025 shares. The stock had previously closed at $103.47.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CCJ shares. Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a report on Monday, March 9th. Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday. Barclays started coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price on the stock. Finally, Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.92.

Cameco Stock Down 1.6%

The company has a fifty day moving average price of $111.17 and a 200-day moving average price of $110.53. 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 firm has a market capitalization of $44.33 billion, a PE ratio of 94.25, a PEG ratio of 1.91 and a beta of 0.99.

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

Hedge Funds Weigh In On Cameco

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