Cameco (NYSE:CCJ) Stock Price Down 0.4% – Here’s Why

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.4% on Thursday . The company traded as low as $53.81 and last traded at $53.89. 1,693,262 shares changed hands during trading, a decline of 62% from the average session volume of 4,410,229 shares. The stock had previously closed at $54.08.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CCJ. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank cut their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cameco presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 137.92 and a beta of 0.90. The firm has a fifty day moving average price of $45.96 and a 200-day moving average price of $47.89.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same period last year, the company posted ($0.01) EPS. The business’s revenue was up 24.1% on a year-over-year basis. As a group, equities analysts anticipate that Cameco Co. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently modified their holdings of the business. LRI Investments LLC acquired a new stake in Cameco in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 550 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Cameco by 99.3% during the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Cameco by 68.8% during the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 642 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.