Cameco (NYSE:CCJ) Shares Down 1.8% – Here’s What Happened

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were down 1.8% on Thursday . The company traded as low as $49.06 and last traded at $49.44. Approximately 758,464 shares traded hands during trading, a decline of 84% from the average daily volume of 4,667,173 shares. The stock had previously closed at $50.35.

Cameco Price Performance

The stock’s 50 day moving average is $53.25 and its two-hundred day moving average is $49.35. 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 capitalization of $21.33 billion, a PE ratio of 257.93 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Large investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. Bridgewater Associates LP increased its stake in Cameco by 19.9% in the third quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after purchasing an additional 410,711 shares during the last quarter. Progeny 3 Inc. increased its stake in Cameco by 7.5% in the third quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock valued at $108,326,000 after purchasing an additional 159,200 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Cameco by 9.4% in the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock valued at $103,968,000 after purchasing an additional 187,512 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Cameco by 44.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock valued at $102,737,000 after purchasing an additional 664,828 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.