Cameco (NYSE:CCJ) Trading Down 2.6% – Here’s Why

by · The Cerbat Gem

Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s stock price traded down 2.6% during trading on Thursday . The stock traded as low as $110.12 and last traded at $112.4010. 3,124,724 shares changed hands during trading, a decline of 19% from the average session volume of 3,860,001 shares. The stock had previously closed at $115.39.

Analyst Ratings Changes

Several analysts have issued reports on CCJ shares. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Royal Bank Of Canada increased their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.13.

Check Out Our Latest Stock Analysis on CCJ

Cameco Trading Down 2.6%

The business’s 50 day moving average price is $114.62 and its 200-day moving average price is $106.90. The company has a market cap of $48.95 billion, a price-to-earnings ratio of 104.08, a PEG ratio of 1.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its 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 business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. During the same period in the previous year, the business earned $0.16 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, research analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Cameco

Several large investors have recently modified their holdings of CCJ. Sterling Capital Management LLC bought a new position in shares of Cameco during the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC bought a new position in shares of Cameco during the fourth quarter valued at $25,000. Brown Lisle Cummings Inc. grew its holdings in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Founders Capital Management acquired a new position in Cameco in the fourth quarter valued at about $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Cameco in the fourth quarter valued at approximately $28,000. 70.21% of the stock is currently owned by institutional investors.

About Cameco

(Get Free Report)

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.

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