Cameco (NYSE:CCJ) Stock Price Down 1.2% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 1.2% on Wednesday . The company traded as low as $119.45 and last traded at $119.6550. 3,238,262 shares traded hands during trading, a decline of 30% from the average session volume of 4,619,511 shares. The stock had previously closed at $121.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. National Bank Financial reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Stock Down 1.2%

The company has a market capitalization of $52.11 billion, a PE ratio of 123.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The company’s 50-day moving average is $110.04 and its 200 day moving average is $94.12.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Bison Wealth LLC boosted its position in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC lifted its position in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Cameco in the 2nd quarter worth approximately $267,000. Institutional investors own 70.21% of the company’s stock.

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.