Cameco (NYSE:CCJ) Stock Price Down 5.7% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price traded down 5.7% on Tuesday . The company traded as low as $63.00 and last traded at $63.10. 4,945,115 shares changed hands during trading, an increase of 15% from the average session volume of 4,294,511 shares. The stock had previously closed at $66.91.

Analyst Ratings Changes

CCJ has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Sanford C. Bernstein assumed coverage on shares of Cameco in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price target on the stock. Glj Research increased their price objective on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Finally, Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $70.53.

Cameco Stock Performance

The stock’s 50 day moving average price is $48.51 and its 200 day moving average price is $49.23. The company has a market capitalization of $27.48 billion, a P/E ratio of 225.70 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. During the same period last year, the business earned $0.13 EPS. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts expect that Cameco Co. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Capital Wealth Advisors bought a new position in Cameco in the fourth quarter worth approximately $839,000. Sprott Inc. lifted its holdings in Cameco by 44.5% during the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after buying an additional 34,483 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Cameco in the 4th quarter worth approximately $930,000. Plato Investment Management Ltd acquired a new stake in Cameco in the 4th quarter worth approximately $360,000. Finally, Tidal Investments LLC increased its holdings in shares of Cameco by 44.7% in the fourth quarter. Tidal Investments LLC now owns 36,736 shares of the basic materials company’s stock valued at $1,888,000 after purchasing an additional 11,340 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.