Cameco (NYSE:CCJ) Trading Down 1.6% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price was down 1.6% during mid-day trading on Tuesday . The company traded as low as $99.80 and last traded at $101.7940. Approximately 3,229,849 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 3,694,025 shares. The stock had previously closed at $103.47.

Analyst Ratings Changes

CCJ has been the subject of several research analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. William Blair began coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.92.

Cameco Stock Performance

The stock has a market capitalization of $44.33 billion, a PE ratio of 94.25, a PEG ratio of 1.91 and a beta of 0.99. The business has a 50 day moving average price of $111.17 and a 200 day moving average price of $110.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

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

Institutional Investors Weigh In On Cameco

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in Cameco by 4.6% during the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after acquiring an additional 108,841 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Cameco in the fourth quarter worth approximately $1,974,000. Vanguard Group Inc. grew its stake in shares of Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cameco by 0.7% during 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. Finally, Spark Investment Management LLC purchased a new position in shares of Cameco during the third quarter valued at approximately $839,000. Hedge funds and other 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.