Cameco (NYSE:CCJ) Shares Down 4.6% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 4.6% during trading on Wednesday . The stock traded as low as $96.82 and last traded at $97.2050. Approximately 4,022,847 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 3,696,948 shares. The stock had previously closed at $101.86.

Analyst Ratings Changes

Several equities analysts recently weighed in on CCJ shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Barclays began coverage on shares of Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target for the company. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Finally, TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.92.

Cameco Price Performance

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 market capitalization of $41.97 billion, a price-to-earnings ratio of 89.22, a price-to-earnings-growth ratio of 1.78 and a beta of 1.02. The business has a fifty day moving average of $109.86 and a two-hundred day moving average of $110.63.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the prior year, the business earned $0.16 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts predict that Cameco Corporation will post 1.21 EPS for the current fiscal year.

Institutional Trading of Cameco

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors boosted its holdings in shares of Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after acquiring an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after purchasing an additional 323,693 shares during the period. Institutional investors and hedge funds 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.