Cameco (NYSE:CCJ) Shares Down 1.2% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price fell 1.2% during trading on Wednesday . The stock traded as low as $112.02 and last traded at $115.5580. 3,340,381 shares changed hands during trading, a decline of 14% from the average session volume of 3,863,261 shares. The stock had previously closed at $116.93.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCJ. Glj Research reissued a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. William Blair assumed coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price target on shares of Cameco in a research report on Thursday, February 5th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Price Performance

The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $50.33 billion, a PE ratio of 107.00, a PEG ratio of 2.17 and a beta of 1.04. The stock has a 50-day moving average price of $114.83 and a 200 day moving average price of $106.69.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Equities analysts forecast that Cameco Corporation will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new position in shares of Cameco during the fourth quarter valued at approximately $25,000. Founders Capital Management acquired a new stake in shares of Cameco in the fourth quarter worth approximately $27,000. Strategic Advocates LLC purchased a new stake in shares of Cameco during the third quarter worth approximately $28,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Cameco during the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 307 shares during the last quarter. 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.