Cameco (NYSE:CCJ) Stock Price Down 0.4% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.4% on Friday . The stock traded as low as $44.02 and last traded at $44.66. 912,435 shares traded hands during trading, a decline of 78% from the average session volume of 4,078,281 shares. The stock had previously closed at $44.85.

Analysts Set New Price Targets

Several brokerages have weighed in on CCJ. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. Stifel Canada raised Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Glj Research upped their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Cameco has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market cap of $19.28 billion, a PE ratio of 158.18 and a beta of 1.04. The business has a fifty day moving average of $47.13 and a 200-day moving average of $49.99.

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

Institutional Trading of Cameco

A number of large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Cameco by 29.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 1,439 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Cameco during the fourth quarter worth $4,839,000. Copia Wealth Management purchased a new stake in Cameco during the fourth quarter worth $39,000. Polar Asset Management Partners Inc. lifted its holdings in Cameco by 337.2% during the fourth quarter. Polar Asset Management Partners Inc. now owns 98,376 shares of the basic materials company’s stock worth $5,055,000 after buying an additional 75,876 shares during the period. Finally, Hall Capital Management Co. Inc. purchased a new stake in Cameco during the fourth quarter worth $204,000. Hedge funds and other 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.