Cameco (NYSE:CCJ) Trading Down 1.5% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price dropped 1.5% on Tuesday . The company traded as low as $101.95 and last traded at $103.5270. Approximately 3,308,802 shares were traded during trading, a decline of 14% from the average daily volume of 3,840,557 shares. The stock had previously closed at $105.14.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Glj Research restated a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings cut shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.62.

Cameco Trading Up 1.4%

The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $45.94 billion, a P/E ratio of 97.66, a PEG ratio of 1.76 and a beta of 1.04. The firm’s 50-day simple moving average is $113.41 and its 200 day simple moving average is $107.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cameco Corporation will post 1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Cameco by 79.4% in the 3rd 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 buying an additional 110,629 shares during the last quarter. NWF Advisory Services Inc. acquired a new position in Cameco in the 3rd quarter valued at $1,996,000. Mediolanum International Funds Ltd grew its stake in Cameco by 165.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock valued at $2,894,000 after buying an additional 21,361 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Cameco by 278.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock valued at $12,208,000 after buying an additional 106,987 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cameco in the 3rd quarter valued at $31,028,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Company Profile

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.