Cameco (NYSE:CCJ) Shares Down 6.4% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) dropped 6.4% during trading on Friday . The stock traded as low as $105.00 and last traded at $107.9230. Approximately 6,549,323 shares traded hands during trading, an increase of 46% from the average daily volume of 4,495,583 shares. The stock had previously closed at $115.30.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Glj Research reiterated a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Royal Bank Of Canada boosted their price target 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. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Price Performance

The company has a market capitalization of $47.00 billion, a P/E ratio of 111.26 and a beta of 0.98. The business’s 50-day moving average is $116.36 and its two-hundred day moving average is $97.40. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) 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 the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently modified their holdings of CCJ. Vanguard Group Inc. lifted its holdings in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors grew its stake in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cameco by 0.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Cameco by 15.6% during the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.