Cameco (NYSE:CCJ) Stock Price Down 1.2% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were down 1.2% on Wednesday . The company traded as low as $112.02 and last traded at $115.5580. Approximately 3,340,381 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 3,863,261 shares. The stock had previously closed at $116.93.

Analysts Set New Price Targets

Several research firms have commented on CCJ. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. William Blair initiated coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada lifted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Price Performance

The business’s fifty day simple moving average is $114.26 and its 200-day simple moving average is $107.07. 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 $46.85 billion, a P/E ratio of 99.61, a PEG ratio of 1.95 and a beta of 1.04.

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, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Cameco Corporation will post 1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the 4th quarter valued at $25,000. Founders Capital Management purchased a new position in shares of Cameco during the 4th quarter valued at $27,000. Strategic Advocates LLC purchased a new position in shares of Cameco during the 3rd quarter valued at $28,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Cameco during the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Cameco by 30,700.0% during the 4th 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 in the last quarter. 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.