Cameco (NYSE:CCJ) Shares Down 2.1%

Cameco Co. (NYSE:CCJ) (TSE:CCO) traded down 2.1% during mid-day trading on Friday . The company traded as low as $39.68 and last traded at $39.87. 843,651 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,336,731 shares. The stock had previously closed at $40.74.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank lowered their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Glj Research reiterated a “buy” rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cameco has an average rating of “Buy” and an average price target of $67.25.

Cameco Stock Performance

The company has a market capitalization of $17.42 billion, a P/E ratio of 104.38 and a beta of 0.90. The stock’s fifty day moving average price is $42.98 and its 200-day moving average price is $46.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results 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). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The business’s revenue was up 24.1% compared to the same quarter last year. As a group, research analysts anticipate that Cameco Co. will post 0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of CCJ. Norges Bank bought a new position in shares of Cameco in the 4th quarter valued at $99,511,000. Massachusetts Financial Services Co. MA bought a new stake in Cameco during the 2nd quarter worth $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Cameco during the 1st quarter worth $31,131,000. King Luther Capital Management Corp bought a new stake in Cameco during the 2nd quarter worth $32,740,000. Finally, Trexquant Investment LP bought a new stake in Cameco during the 4th quarter worth $19,955,000. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.