Cameco (NYSE:CCJ) Stock Price Down 0.7% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares dropped 0.7% during mid-day trading on Thursday . The stock traded as low as $41.87 and last traded at $42.30. Approximately 511,620 shares were traded during trading, a decline of 88% from the average daily volume of 4,127,430 shares. The stock had previously closed at $42.60.

Analyst Ratings Changes

A number of brokerages recently commented on CCJ. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday. Glj Research increased their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus began coverage on shares of Cameco in a research report on Wednesday. They set a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Stifel Canada raised Cameco to a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Price Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 151.55 and a beta of 1.04. The company has a 50 day moving average of $47.80 and a 200 day moving average of $49.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Equities research analysts predict that Cameco Co. will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dantai Capital Ltd lifted its position in shares of Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after purchasing an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC bought a new stake in Cameco during the 4th quarter worth about $895,000. Whalen Wealth Management Inc. acquired a new position in shares of Cameco during the 4th quarter worth about $445,000. Sprott Inc. grew its holdings in shares of Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after acquiring an additional 34,483 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Cameco in the third quarter valued at about $5,305,000. 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.