Cameco (NYSE:CCJ) Trading Down 2.5% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price fell 2.5% during mid-day trading on Tuesday . The company traded as low as $44.74 and last traded at $44.60. 682,000 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,089,585 shares. The stock had previously closed at $45.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Finally, Glj Research boosted their price target on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco presently has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Trading Down 1.3 %

The stock has a 50-day moving average of $46.75 and a 200 day moving average of $50.23. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a market cap of $18.59 billion, a PE ratio of 152.53 and a beta of 1.04.

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

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA grew its holdings in Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares during the period. Larson Financial Group LLC grew its stake in shares of Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP increased its holdings in shares of Cameco by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock valued at $2,592,000 after purchasing an additional 238 shares in the last quarter. Heritage Wealth Management Inc. lifted its stake in shares of Cameco by 0.8% in the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after purchasing an additional 250 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after buying an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.