Cameco (NYSE:CCJ) Stock Price Down 4.1% – What’s Next?

Cameco Co. (NYSE:CCJGet Free Report) (TSE:CCO) traded down 4.1% during trading on Thursday . The company traded as low as $51.55 and last traded at $51.79. 1,573,311 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 4,387,771 shares. The stock had previously closed at $53.98.

Analyst Ratings Changes

CCJ has been the subject of a number of research reports. Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Scotiabank reduced their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Finally, National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment 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 company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.56.

Get Our Latest Report on CCJ

Cameco Stock Performance

The stock’s 50 day moving average price is $46.76 and its 200 day moving average price is $47.99. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The company has a market cap of $22.76 billion, a price-to-earnings ratio of 120.44 and a beta of 0.90.

Cameco (NYSE:CCJGet Free Report) (TSE:CCO) last announced 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). The company had revenue of $598.00 million during 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 firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS. On average, analysts expect that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of Cameco in the second quarter worth about $73,125,000. M&G PLC acquired a new stake in Cameco in the third quarter valued at approximately $66,227,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Cameco during the first quarter valued at approximately $31,131,000. King Luther Capital Management Corp acquired a new position in shares of Cameco during the second quarter worth $32,740,000. Finally, Van ECK Associates Corp grew its holdings in Cameco by 48.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock valued at $75,691,000 after purchasing an additional 515,046 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

(Get Free Report)

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.

Further Reading

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