Cameco (NYSE:CCJ) Stock Price Down 1.9% – Here’s What Happened

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) traded down 1.9% during trading on Wednesday . The stock traded as low as $55.48 and last traded at $55.62. 994,832 shares were traded during mid-day trading, a decline of 77% from the average session volume of 4,398,608 shares. The stock had previously closed at $56.68.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several research analyst reports. Bank of America lifted their price target on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank decreased their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cameco has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Down 5.0 %

The stock has a market cap of $23.44 billion, a PE ratio of 142.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The firm has a 50-day moving average price of $45.14 and a 200-day moving average price of $47.77.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned ($0.01) earnings per share. As a group, equities analysts anticipate that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its position in Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 2,683 shares in the last quarter. LRI Investments LLC bought a new position in Cameco in the 1st quarter worth $30,000. Susquehanna Fundamental Investments LLC bought a new stake in Cameco in the 1st quarter valued at $295,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of Cameco during the third quarter valued at about $441,000. Finally, Sei Investments Co. increased its holdings in shares of Cameco by 285.3% in the second quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after purchasing an additional 53,144 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

About Cameco

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.