Cameco (NYSE:CCJ) Trading Down 3.9% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was down 3.9% during trading on Friday . The company traded as low as $108.66 and last traded at $109.77. Approximately 3,883,296 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 4,485,515 shares. The stock had previously closed at $114.24.

Analysts Set New Price Targets

CCJ has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. National Bank Financial restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Glj Research reaffirmed a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Cameco Stock Performance

The firm has a market cap of $47.81 billion, a price-to-earnings ratio of 113.16 and a beta of 0.98. The firm’s 50 day moving average is $114.03 and its 200-day moving average is $95.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter worth $443,265,000. TD Asset Management Inc lifted its position in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Cameco by 41.4% during the second 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 acquiring an additional 2,071,373 shares during the period. Marshall Wace LLP grew its position in shares of Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.