Cameco (NYSE:CCJ) Stock Price Down 2.2% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was down 2.2% during trading on Monday . The stock traded as low as $117.23 and last traded at $118.6280. Approximately 2,737,921 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 4,690,201 shares. The stock had previously closed at $121.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCJ shares. Glj Research reissued a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada boosted their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.03.

Cameco Trading Down 2.2%

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $109.36 and its two-hundred day moving average price is $93.81. The firm has a market cap of $51.67 billion, a PE ratio of 122.30 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC raised its position in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after acquiring an additional 85 shares in the last quarter. Legacy Bridge LLC boosted its position in shares of Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares in the last quarter. S.A. Mason LLC grew its stake in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares during the period. GAMMA Investing LLC increased its holdings in shares of Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 112 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Cameco by 3.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 114 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.