Cameco (NYSE:CCJ) Shares Down 0.4% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.4% during mid-day trading on Friday . The company 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCJ. Glj Research increased their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Stifel Nicolaus began coverage on shares of Cameco in a report on Wednesday, March 12th. They set a “buy” rating on the stock. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Price Performance

The stock’s 50-day moving average price is $47.03 and its 200 day moving average price is $50.10. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 159.34 and a beta of 1.04. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

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

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Cameco by 29.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 1,439 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Cameco during the fourth quarter worth about $4,839,000. Copia Wealth Management acquired a new stake in Cameco during the fourth quarter worth about $39,000. Polar Asset Management Partners Inc. increased its position 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 purchasing an additional 75,876 shares during the last quarter. Finally, Hall Capital Management Co. Inc. acquired a new stake in Cameco during the fourth quarter worth about $204,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.