Cameco (NYSE:CCJ) Stock Price Down 1.3% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were down 1.3% during mid-day trading on Monday . The company traded as low as $100.37 and last traded at $100.9250. Approximately 4,708,907 shares traded hands during trading, a decline of 4% from the average daily volume of 4,885,362 shares. The stock had previously closed at $102.21.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CCJ shares. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. CLSA assumed coverage on shares of Cameco in a research note on Tuesday, September 9th. They set an “outperform” rating and a $102.00 target price for the company. National Bankshares restated an “outperform” rating on shares of Cameco in a report on Friday, August 22nd. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a report on Friday, August 29th. Finally, UBS Group set a $102.00 price objective on Cameco in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Cameco presently has a consensus rating of “Buy” and a consensus price target of $102.61.

Cameco Price Performance

The firm has a market capitalization of $43.94 billion, a P/E ratio of 116.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The stock’s fifty day simple moving average is $84.88 and its 200 day simple moving average is $71.72.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm’s revenue was up 46.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, equities research analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in CCJ. AE Wealth Management LLC increased its holdings in shares of Cameco by 61.0% during the third quarter. AE Wealth Management LLC now owns 8,804 shares of the basic materials company’s stock valued at $738,000 after acquiring an additional 3,337 shares in the last quarter. Kapitalo Investimentos Ltda increased its holdings in shares of Cameco by 2.6% during the third quarter. Kapitalo Investimentos Ltda now owns 88,801 shares of the basic materials company’s stock valued at $7,447,000 after acquiring an additional 2,248 shares in the last quarter. Activest Wealth Management acquired a new position in shares of Cameco during the third quarter valued at about $91,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cameco by 79.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after acquiring an additional 110,629 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Cameco by 5.7% during the third quarter. Truist Financial Corp now owns 31,060 shares of the basic materials company’s stock valued at $2,605,000 after acquiring an additional 1,681 shares in the last quarter. 70.21% of the stock is currently 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.