Cameco (NYSE:CCJ) Stock Price Down 2% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded down 2% during trading on Friday . The company traded as low as $83.15 and last traded at $85.6080. 4,752,435 shares changed hands during trading, an increase of 28% from the average session volume of 3,700,649 shares. The stock had previously closed at $87.36.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CCJ shares. Truist Financial started coverage on Cameco in a report on Monday. They set a “buy” rating and a $129.00 price target on the stock. Royal Bank Of Canada raised their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Barclays lowered their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday. Finally, Bank of America decreased their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.18.

Cameco Trading Down 2.0%

The firm has a 50 day moving average of $104.45 and a 200 day moving average of $110.85. The firm has a market cap of $37.28 billion, a PE ratio of 79.27, a P/E/G ratio of 1.49 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.16 earnings per share. Equities analysts anticipate that Cameco Corporation will post 1.29 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Cameco by 35.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after acquiring an additional 139,592 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Cameco during the 4th quarter valued at $1,974,000. Vanguard Group Inc. lifted its holdings in Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in Cameco by 22.5% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 836,431 shares of the basic materials company’s stock worth $90,845,000 after purchasing an additional 153,479 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Cameco by 118.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 145,643 shares of the basic materials company’s stock worth $15,835,000 after purchasing an additional 78,990 shares during the period. 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.