Cameco (NYSE:CCJ) Shares Down 4.1% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price fell 4.1% during trading on Thursday . The stock traded as low as $51.55 and last traded at $51.79. 1,573,311 shares traded hands during 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 topic of a number of recent analyst reports. Scotiabank cut their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Glj Research reaffirmed a “buy” rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Down 3.1 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The business has a fifty day moving average of $46.76 and a 200-day moving average of $47.99. The stock has a market capitalization of $22.76 billion, a price-to-earnings ratio of 120.44 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. On average, equities analysts anticipate that Cameco Co. will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in shares of Cameco during the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after buying an additional 238 shares during the period. JFS Wealth Advisors LLC lifted its stake in Cameco by 130.6% during the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares in the last quarter. Larson Financial Group LLC increased 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 in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 642 shares during the period. Institutional investors and hedge funds 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.