Cameco (NYSE:CCJ) Trading Down 9.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares dropped 9.2% on Friday . The stock traded as low as $102.45 and last traded at $103.5210. Approximately 3,836,750 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 3,752,298 shares. The stock had previously closed at $114.02.

Wall Street Analyst Weigh In

CCJ has been the topic of several recent research reports. Canadian Imperial Bank of Commerce increased their price target on shares of Cameco to $202.00 in a research report on Monday, March 9th. Barclays initiated coverage on shares of Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Weiss Ratings downgraded shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada raised their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.62.

Cameco Stock Down 9.2%

The stock has a market capitalization of $45.09 billion, a P/E ratio of 95.85, a P/E/G ratio of 1.94 and a beta of 0.99. The company’s 50-day moving average price is $113.81 and its 200 day moving average price is $108.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. As a group, equities analysts expect that Cameco Corporation will post 1.31 earnings per share for the current year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC raised its holdings in Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares in the last quarter. Legacy Bridge LLC raised its holdings in Cameco by 0.9% during the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC raised its holdings in Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 107 shares in the last quarter. Groupama Asset Managment raised its holdings in Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares in the last quarter. Finally, S.A. Mason LLC raised its holdings in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

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.