Cameco (NYSE:CCJ) Trading Down 6.7%

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price traded down 6.7% on Tuesday . The stock traded as low as $45.75 and last traded at $46.10. 2,924,301 shares were traded during mid-day 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 Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Cameco in a report on Monday, April 1st. They issued a “buy” rating and a $55.00 price target on the stock. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Cameco Stock Down 6.9 %

The stock has a market capitalization of $19.98 billion, a PE ratio of 77.27 and a beta of 0.92. The company’s fifty day moving average price is $44.57 and its 200-day moving average price is $44.12. 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 issued its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The business had revenue of $620.00 million for the quarter. Cameco had a net margin of 13.97% and a return on equity of 5.61%. Analysts forecast that Cameco Co. will post 1.54 earnings per share for the current year.

Institutional Trading of Cameco

Several hedge funds have recently made changes to their positions in the business. Privium Fund Management UK Ltd purchased a new stake in shares of Cameco during the 1st quarter valued at about $1,309,000. Principal Financial Group Inc. raised its position in Cameco by 43.7% in the 1st quarter. Principal Financial Group Inc. now owns 22,700 shares of the basic materials company’s stock worth $984,000 after purchasing an additional 6,900 shares during the period. Foster Victor Wealth Advisors LLC boosted its stake in shares of Cameco by 20.6% during the first quarter. Foster Victor Wealth Advisors LLC now owns 111,734 shares of the basic materials company’s stock valued at $4,840,000 after purchasing an additional 19,100 shares in the last quarter. K.J. Harrison & Partners Inc boosted its stake in shares of Cameco by 9.7% during the first quarter. K.J. Harrison & Partners Inc now owns 33,577 shares of the basic materials company’s stock valued at $1,453,000 after purchasing an additional 2,980 shares in the last quarter. Finally, BayBridge Capital Group LLC boosted its stake in Cameco by 3.8% in the first quarter. BayBridge Capital Group LLC now owns 10,051 shares of the basic materials company’s stock valued at $475,000 after acquiring an additional 369 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

About Cameco

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.