Cameco (NYSE:CCJ) Trading Down 3.3% – What’s Next?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) dropped 3.3% on Tuesday . The stock traded as low as $55.31 and last traded at $56.02. Approximately 2,257,895 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 4,402,629 shares. The stock had previously closed at $57.92.

Analyst Ratings Changes

CCJ has been the subject of several research analyst reports. Glj Research reaffirmed a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Finally, Bank of America lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

The business’s 50-day moving average price is $45.43 and its 200 day moving average price is $47.81. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $23.53 billion, a P/E ratio of 138.67 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (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 the consensus estimate of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. Cameco’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. Analysts anticipate that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CCJ. Massachusetts Financial Services Co. MA bought a new stake in Cameco during the second quarter worth about $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Cameco during the 1st quarter valued at about $31,131,000. King Luther Capital Management Corp purchased a new stake in Cameco in the second quarter worth approximately $32,740,000. The Manufacturers Life Insurance Company boosted its stake in Cameco by 28.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock worth $97,653,000 after buying an additional 437,921 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in Cameco by 106.2% during the second quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company’s stock valued at $41,386,000 after acquiring an additional 433,234 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

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.