Cameco (NYSE:CCJ) Stock Price Down 2.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) dropped 2.2% on Wednesday . The company traded as low as $104.51 and last traded at $106.4710. 2,785,871 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 3,724,706 shares. The stock had previously closed at $108.89.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCJ. William Blair assumed coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Cameco to $202.00 in a research note on Monday, March 9th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Scotiabank restated an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.42.

Cameco Trading Down 2.2%

The firm has a market cap of $46.37 billion, a P/E ratio of 98.59, a P/E/G ratio of 1.95 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The firm has a fifty day moving average of $112.25 and a 200-day moving average of $110.19.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the prior year, the business earned $0.16 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Equities research analysts forecast that Cameco Corporation will post 1.21 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently modified their holdings of the company. Bison Wealth LLC increased its holdings in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after acquiring an additional 2,975 shares during the period. AQR Capital Management LLC grew its position in Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after purchasing an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund bought a new stake in shares of Cameco during the second quarter valued at approximately $14,252,000. Institutional investors own 70.21% of the company’s stock.

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.