Cameco (NYSE:CCJ) Stock Price Down 2.7% – Here’s What Happened
by Michael Walen · The Markets DailyCameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) fell 2.7% on Thursday . The stock traded as low as $101.82 and last traded at $106.4820. 3,889,370 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 4,396,171 shares. The stock had previously closed at $109.40.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Royal Bank Of Canada upped their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.40.
View Our Latest Analysis on CCJ
Cameco Stock Performance
The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The firm has a 50 day moving average price of $117.05 and a two-hundred day moving average price of $98.48. The company has a market capitalization of $46.38 billion, a P/E ratio of 109.78 and a beta of 0.98.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.Cameco’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. On average, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cameco
Institutional investors and hedge funds have recently made changes to their positions in the company. Abbington Investment Group acquired a new stake in Cameco during the 3rd quarter valued at $6,506,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cameco by 79.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock worth $20,964,000 after purchasing an additional 110,629 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Cameco by 165.1% during the second quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock worth $12,593,000 after purchasing an additional 105,523 shares during the last quarter. NWF Advisory Services Inc. acquired a new stake in shares of Cameco in the third quarter valued at $1,996,000. Finally, Thames Capital Management LLC increased its stake in shares of Cameco by 66.8% in the third quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock valued at $8,978,000 after buying an additional 42,879 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.
About Cameco
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.