Yellow Cake (LON:YCA) Stock Price Down 1.4% – Here’s Why

Yellow Cake plc (LON:YCA) shares dropped 1.4% on Wednesday . The stock traded as low as GBX 538.50 and last traded at GBX 546.50. 46,867,918 shares traded hands during mid-day trading, an increase of 673% from the average session volume of 6,065,985 shares. The stock had previously closed at GBX 554.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on YCA shares. Canaccord Genuity Group restated a “buy” rating and issued a GBX 740 price objective on shares of Yellow Cake in a research note on Monday, April 27th. Berenberg Bank lowered their price target on shares of Yellow Cake from GBX 738 to GBX 737 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Yellow Cake currently has an average rating of “Buy” and an average target price of GBX 701.75.

Yellow Cake Price Performance

The firm’s 50-day moving average price is GBX 543.96 and its 200-day moving average price is GBX 589.75. The stock has a market cap of £1.41 billion, a P/E ratio of 3.09 and a beta of 0.30.

Yellow Cake Company Profile

Yellow Cake is a London-quoted company, incorporated in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding U3O8. It may also seek to add value through other uranium-related activities. Yellow Cake and its wholly owned subsidiary (the “Group”) seek to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium-related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world’s largest uranium producer.