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

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

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Down 0.3 %

The firm has a market capitalization of $23.46 billion, a PE ratio of 138.18 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $45.43 and its 200 day moving average price is $47.81.

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

Institutional Investors Weigh In On Cameco

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position 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. LRI Investments LLC acquired a new stake in shares of Cameco in the first quarter worth approximately $26,000. Larson Financial Group LLC boosted its position in shares of Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 600 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Cameco by 68.8% in the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 642 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Cameco in the first quarter worth approximately $87,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.