Cameco (NYSE:CCJ) Shares Down 0.5% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were down 0.5% on Wednesday . The stock traded as low as $53.65 and last traded at $54.47. Approximately 890,086 shares were traded during trading, a decline of 80% from the average daily volume of 4,395,370 shares. The stock had previously closed at $54.77.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCJ. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank dropped their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Glj Research reiterated a “buy” rating and set a $63.73 price target on shares of Cameco in a research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $47.00 and a two-hundred day simple moving average of $48.02. The company has a market cap of $22.99 billion, a PE ratio of 124.30 and a beta of 0.90.

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

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new position in Cameco during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after buying an additional 600 shares during the period. Finally, Blue Trust Inc. boosted its position in Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 642 shares during the last quarter. 70.21% of the stock is currently 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.