Cameco (NYSE:CCJ) Trading Down 2.9% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was down 2.9% during mid-day trading on Tuesday . The company traded as low as $92.92 and last traded at $94.7190. 3,413,317 shares changed hands during trading, a decline of 7% from the average session volume of 3,685,953 shares. The stock had previously closed at $97.50.

Analyst Ratings Changes

CCJ has been the subject of a number of research analyst reports. Barclays started 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. Royal Bank Of Canada raised their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Bank of America decreased their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.11.

Cameco Stock Up 1.1%

The stock has a market cap of $41.72 billion, a PE ratio of 88.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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 company’s 50-day moving average price is $107.62 and its 200 day moving average price is $110.87.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in Cameco in the 4th quarter worth $25,000. Founders Capital Management bought a new stake in Cameco during the fourth quarter valued at about $27,000. Strategic Advocates LLC purchased a new stake in Cameco in the third quarter worth about $28,000. Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the fourth quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after buying an additional 307 shares during the period. 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.