Cameco (NYSE:CCJ) Shares Down 1.9% - Here's Why

Key Points

• Cameco shares fell 1.9% to about $110.48 on Monday, with trading volume (~1.69M shares) down ~59% versus the session average.
• Analysts remain generally bullish — 11 Buy vs. 3 Hold ratings with a consensus "Moderate Buy" and an average price target of $150.40, and several firms recently raised targets (e.g., CIBC to $202, RBC to $160).
• Cameco beat quarterly estimates with EPS $0.36 vs. $0.29 expected and revenue $874.6M vs. $782.1M expected, and institutions have been adding large stakes (institutional ownership ~70.2%, including a ~$443M new position by Norges Bank).

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price fell 1.9% on Monday . The company traded as low as $109.33 and last traded at $110.4840. 1,693,351 shares were traded during mid-day trading, a decline of 59% from the average session volume of 4,175,455 shares. The stock had previously closed at $112.57.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Canadian Imperial Bank of Commerce raised their price target on Cameco to $202.00 in a report on Monday, March 9th. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, January 14th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $150.40.

Cameco Price Performance

The business has a 50-day simple moving average of $115.35 and a two-hundred day simple moving average of $101.03. The stock has a market capitalization of $48.12 billion, a price-to-earnings ratio of 113.90 and a beta of 1.02. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Cameco's quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $443,265,000. TD Asset Management Inc boosted its position in Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company's stock valued at $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock worth $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Marshall Wace LLP boosted its position in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

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.

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