Cameco (NYSE:CCJ) Trading Down 9.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded down 9.2% during trading on Friday . The company traded as low as $102.45 and last traded at $103.5210. 3,836,750 shares were traded during trading, an increase of 2% from the average session volume of 3,752,298 shares. The stock had previously closed at $114.02.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce raised their target price on shares of Cameco to $202.00 in a report on Monday, March 9th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Barclays assumed coverage on shares of Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price on the stock. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Cameco Stock Down 9.2%

The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average is $113.81 and its 200-day moving average is $108.50. The company has a market cap of $45.09 billion, a PE ratio of 95.85, a PEG ratio of 1.94 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) 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 company had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter last year, the company posted $0.16 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Cameco Corporation will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors raised its position in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after acquiring an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after acquiring an additional 85,762 shares during the period. Van ECK Associates Corp raised its position in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after acquiring an additional 849,188 shares during the period. Finally, Morgan Stanley raised its position in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after acquiring an additional 323,693 shares during the period. 70.21% of the stock is currently owned by institutional investors.

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.