Cameco (NYSE:CCJ) Trading Down 0% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were down 0% during mid-day trading on Monday . The stock traded as low as $57.52 and last traded at $58.01. Approximately 1,784,072 shares traded hands during trading, a decline of 59% from the average daily volume of 4,399,564 shares. The stock had previously closed at $58.02.

Analysts Set New Price Targets

Several analysts have commented on CCJ shares. Scotiabank lowered their price objective 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. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their target price on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Glj Research reissued 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 shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

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 company has a market capitalization of $23.53 billion, a PE ratio of 142.26 and a beta of 0.90. The firm’s 50 day simple moving average is $45.14 and its 200 day simple moving average is $47.77.

Cameco (NYSE:CCJ) (TSE:CCO) last released its 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). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same period in the prior year, the company posted ($0.01) EPS. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, research analysts anticipate that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCJ. Tidal Investments LLC grew its stake in Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after acquiring an additional 2,683 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Cameco in the first quarter valued at approximately $30,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Cameco during the 1st quarter worth $295,000. Moss Adams Wealth Advisors LLC purchased a new position in Cameco during the 3rd quarter valued at about $441,000. Finally, Sei Investments Co. raised its stake in Cameco by 285.3% in the second quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after buying an additional 53,144 shares in the last quarter. Hedge funds and other institutional investors 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.