Yellow Cake (LON:YCA) Stock Price Down 1.4% – Here’s What Happened

Yellow Cake plc (LON:YCA)’s share price was down 1.4% during mid-day trading on Wednesday . The stock traded as low as GBX 538.50 and last traded at GBX 546.50. Approximately 46,867,918 shares changed hands during mid-day trading, an increase of 673% from the average session volume of 6,065,985 shares. The stock had previously closed at GBX 554.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and set a GBX 740 price objective on shares of Yellow Cake in a research note on Monday, April 27th. Berenberg Bank decreased their target price on shares of Yellow Cake from GBX 738 to GBX 737 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 701.75.

Yellow Cake Price Performance

The business has a 50-day simple moving average of GBX 544.40 and a 200 day simple moving average of GBX 590.52. The firm has a market cap of £1.38 billion, a PE ratio of -136.62 and a beta of 0.30.

About Yellow Cake

Yellow Cake is a London-quoted company, incorporated in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding U3O8. It may also seek to add value through other uranium-related activities. Yellow Cake and its wholly owned subsidiary (the “Group”) seek to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium-related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world’s largest uranium producer.