Cameco (NYSE:CCJ) Shares Down 4.1% – What’s Next?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 4.1% on Thursday . The company traded as low as $118.03 and last traded at $118.7280. 3,039,817 shares were traded during trading, a decline of 22% from the average session volume of 3,900,200 shares. The stock had previously closed at $123.76.

Key Stories Impacting Cameco

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Scotiabank raised its FY2026 earnings estimate for Cameco to $1.07 per share from $0.89 and maintained an Outperform rating with a $175 price target, signaling continued confidence in the company’s longer-term earnings power.
• Neutral Sentiment: Unusual options activity showed heavy call buying in Cameco, with 384,705 call contracts purchased versus the typical 24,198, suggesting traders are positioning for more upside or volatility.
• Neutral Sentiment: Cameco announced the election of nine board members at its annual meeting, a routine governance update that is unlikely to materially affect fundamentals on its own. Cameco Announces Election of Directors
• Neutral Sentiment: Scotiabank also trimmed its FY2027 earnings estimate to $1.37 from $1.47, which softens the bullish tone a bit, though the firm still sees Cameco as an outperformer.
• Negative Sentiment: Cameco shares were pressured along with other nuclear names after a strong recent rally, as investors took profits following the sector’s explosive run-up. NANO Nuclear Slides 10%, Oklo Falls 8%, Cameco Slips 4% After Nuclear Stocks Explosive Rally

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCJ shares. William Blair assumed coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Weiss Ratings cut shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday. Raymond James Financial restated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada raised their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.13.

Cameco Stock Performance

The company has a market capitalization of $50.87 billion, a price-to-earnings ratio of 108.14, a PEG ratio of 2.15 and a beta of 1.04. The stock has a fifty day moving average price of $114.87 and a two-hundred day moving average price of $105.97. The company has a quick ratio of 1.68, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Cameco Corporation will post 1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in CCJ. Bison Wealth LLC grew its position in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC increased its stake 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 worth $393,000 after acquiring an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of 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 buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new stake in shares of Cameco in the second quarter worth about $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

About Cameco

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.