Cameco (NYSE:CCJ) Trading Down 6.7%

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded down 6.7% during trading on Tuesday . The company traded as low as $45.75 and last traded at $46.10. 2,924,301 shares were traded during trading, a decline of 42% from the average session volume of 5,015,604 shares. The stock had previously closed at $49.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CCJ shares. The Goldman Sachs Group started coverage on Cameco in a report on Monday, April 1st. They set a “buy” rating and a $55.00 target price on the stock. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Cameco Trading Down 6.9 %

The business has a 50-day moving average price of $44.57 and a two-hundred day moving average price of $44.12. The company has a market cap of $19.98 billion, a P/E ratio of 77.27 and a beta of 0.92. The company has a quick ratio of 0.97, a current ratio of 1.55 and a debt-to-equity ratio of 0.21.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Cameco had a net margin of 13.97% and a return on equity of 5.61%. The company had revenue of $620.00 million during the quarter. On average, analysts predict that Cameco Co. will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its position in Cameco by 5.8% during the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after purchasing an additional 428,310 shares during the last quarter. Guardian Capital LP raised its stake in Cameco by 40.7% in the third quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock valued at $34,451,000 after buying an additional 250,115 shares during the period. Foster Victor Wealth Advisors LLC bought a new stake in Cameco in the fourth quarter valued at approximately $3,956,000. Financial Insights Inc. bought a new stake in Cameco in the third quarter valued at approximately $1,942,000. Finally, Platinum Investment Management Ltd. raised its stake in Cameco by 156.3% in the third quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock valued at $122,605,000 after buying an additional 1,884,004 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.