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

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was down 2.2% during mid-day trading on Monday . The company traded as low as $117.23 and last traded at $118.6280. Approximately 2,737,921 shares were traded during trading, a decline of 42% from the average daily volume of 4,690,201 shares. The stock had previously closed at $121.35.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCJ. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Stock Down 2.2%

The business has a fifty day simple moving average of $109.36 and a 200 day simple moving average of $93.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of 122.30 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Cameco during the 4th quarter worth $443,265,000. TD Asset Management Inc lifted its position in Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after buying an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the period. Marshall Wace LLP boosted its position in shares of Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after buying an additional 1,644,061 shares during the period. Institutional investors and hedge funds 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.