Cameco (NYSE:CCJ) Stock Price Down 3.3% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price dropped 3.3% during mid-day trading on Tuesday . The stock traded as low as $55.31 and last traded at $56.02. Approximately 2,257,895 shares changed hands during trading, a decline of 49% from the average daily volume of 4,402,629 shares. The stock had previously closed at $57.92.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank cut their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Glj Research reissued a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Down 2.1 %

The company has a market capitalization of $24.68 billion, a P/E ratio of 143.64 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 firm’s 50-day moving average price is $44.79 and its 200 day moving average price is $47.71.

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

Hedge Funds Weigh In On Cameco

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Cameco in the 1st quarter worth approximately $30,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cameco in the 1st quarter worth approximately $295,000. Moss Adams Wealth Advisors LLC bought a new stake in shares of Cameco in the 3rd quarter worth approximately $441,000. Finally, Sei Investments Co. raised its holdings in shares of Cameco by 285.3% in the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after purchasing an additional 53,144 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.