Cameco (NYSE:CCJ) Trading Down 3.9% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded down 3.9% on Friday . The stock traded as low as $108.66 and last traded at $109.77. 3,883,296 shares were traded during mid-day trading, a decline of 13% from the average session volume of 4,485,515 shares. The stock had previously closed at $114.24.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CCJ. Glj Research reissued 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. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. UBS Group assumed coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Finally, Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Cameco Price Performance

The firm has a market cap of $47.81 billion, a P/E ratio of 113.16 and a beta of 0.98. The company has a fifty day moving average of $114.36 and a 200-day moving average of $96.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same period last year, the business earned $0.36 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SHP Wealth Management bought a new stake in Cameco in the 4th quarter worth about $353,000. Tobam increased its stake in Cameco by 1,126.9% in the 4th quarter. Tobam now owns 5,521 shares of the basic materials company’s stock valued at $505,000 after buying an additional 5,071 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after buying an additional 108 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co bought a new position in shares of Cameco during the 4th quarter worth approximately $330,000. Finally, Copos Capital S.a r.l. purchased a new position in shares of Cameco in the 4th quarter worth approximately $35,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.