Cameco (NYSE:CCJ) Stock Price Down 2.5% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were down 2.5% during trading on Tuesday . The stock traded as low as $44.74 and last traded at $44.60. Approximately 682,000 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,089,585 shares. The stock had previously closed at $45.74.

Analysts Set New Price Targets

CCJ has been the topic of several analyst reports. Stifel Nicolaus started coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Glj Research boosted their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Price Performance

The stock’s 50 day moving average price is $46.97 and its 200-day moving average price is $50.23. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $19.38 billion, a PE ratio of 159.04 and a beta of 1.04.

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, hitting analysts’ consensus estimates of $0.26. The business had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. As a group, equities analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA increased its stake in shares of Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after buying an additional 191 shares during the period. Larson Financial Group LLC increased its position in Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP raised its holdings in shares of Cameco by 0.5% in the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock valued at $2,592,000 after purchasing an additional 238 shares in the last quarter. Heritage Wealth Management Inc. lifted its position in shares of Cameco by 0.8% in the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock worth $1,587,000 after purchasing an additional 250 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 267 shares in the last quarter. 70.21% of the stock is owned by 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.