Cameco (NYSE:CCJ) Shares Down 0.4% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were down 0.4% on Friday . The company traded as low as $44.02 and last traded at $44.66. Approximately 912,435 shares traded hands during trading, a decline of 78% from the average daily volume of 4,078,281 shares. The stock had previously closed at $44.85.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CCJ shares. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Stifel Nicolaus started coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Glj Research raised their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus target price of $73.64.

Cameco Stock Down 0.5 %

The business’s 50 day moving average is $47.03 and its 200-day moving average is $50.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a market cap of $19.42 billion, a PE ratio of 159.34 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. As a group, analysts predict that Cameco Co. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CCJ. Dantai Capital Ltd lifted its position in shares of Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after buying an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC purchased a new stake in shares of Cameco during the 4th quarter worth approximately $895,000. Whalen Wealth Management Inc. purchased a new stake in shares of Cameco during the 4th quarter worth approximately $445,000. Sprott Inc. lifted its position in shares of Cameco by 44.5% during the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after buying an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Cameco during the 3rd quarter worth approximately $5,305,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.