Cameco (NYSE:CCJ) Trading Down 0% – Here’s Why

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) traded down 0% during mid-day trading on Monday . The stock traded as low as $57.52 and last traded at $58.01. 1,784,072 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 4,399,564 shares. The stock had previously closed at $58.02.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CCJ shares. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America lifted their price objective on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

The business’s 50-day simple moving average is $44.42 and its two-hundred day simple moving average is $47.65. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 148.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Vanguard Group Inc. increased its position in Cameco by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 15,711,083 shares of the basic materials company’s stock valued at $677,148,000 after acquiring an additional 162,569 shares during the period. First Hawaiian Bank acquired a new stake in shares of Cameco in the first quarter valued at about $228,000. Banque Cantonale Vaudoise raised its position in shares of Cameco by 44.3% during the first quarter. Banque Cantonale Vaudoise now owns 17,450 shares of the basic materials company’s stock worth $757,000 after acquiring an additional 5,361 shares during the last quarter. Ballentine Partners LLC bought a new stake in Cameco in the first quarter valued at approximately $273,000. Finally, Thompson Investment Management Inc. boosted its stake in shares of Cameco by 16.5% in the 1st quarter. Thompson Investment Management Inc. now owns 6,515 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 925 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

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.