Cameco (NYSE:CCJ) Shares Down 1.1% – What’s Next?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were down 1.1% during trading on Thursday . The company traded as low as $94.79 and last traded at $96.3580. Approximately 3,752,319 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 3,697,896 shares. The stock had previously closed at $97.39.

Analyst Upgrades and Downgrades

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

Cameco Stock Down 0.2%

The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $41.97 billion, a PE ratio of 89.22, a P/E/G ratio of 1.76 and a beta of 1.02. The business’s 50-day simple moving average is $109.26 and its 200 day simple moving average is $110.53.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results 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. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the prior year, the company earned $0.16 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Cameco Corporation will post 1.21 earnings per share for the current year.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC bought a new position in shares of 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 bought a new stake in Cameco during the third quarter valued at about $28,000. Mcguire Capital Advisors Inc. purchased a new position in Cameco in the fourth quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in 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 valued at $28,000 after purchasing an additional 307 shares during the last quarter. 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.