Cameco (NYSE:CCJ) Stock Price Down 2.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price was down 2.2% during trading on Thursday . The company traded as low as $121.75 and last traded at $123.6810. Approximately 4,360,397 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 4,010,119 shares. The stock had previously closed at $126.47.

Analyst Ratings Changes

A number of equities analysts have recently commented on CCJ shares. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, William Blair began coverage on Cameco in a research report on Monday. They issued an “outperform” rating for the company. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Performance

The firm’s fifty day moving average price is $114.32 and its 200-day moving average price is $103.90. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The company has a market cap of $53.87 billion, a P/E ratio of 127.51 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. During the same quarter last year, the company earned $0.36 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Cameco Corporation will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC increased its holdings in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after buying an additional 85 shares during the period. Legacy Bridge LLC lifted its stake in Cameco by 0.9% during the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares during the period. Groupama Asset Managment lifted its stake in Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares during the period. S.A. Mason LLC lifted its stake in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 112 shares during the period. Institutional investors 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.