Cameco (NYSE:CCJ) Shares Down 2% - What's Next?

Key Points

• Cameco Corporation's stock fell by 2%, closing at $78.36 with a trading volume of approximately 1.4 million shares, significantly below its average volume.
• Analysts maintain a consensus rating of "Buy" for Cameco, with a weighted average price target of $80.65, indicating potential upside.
• The company's latest quarterly earnings report showed a loss of $0.07 per share, missing consensus estimates, while revenue was up 24.4% year-over-year.
• Cameco's market capitalization stands at $34.44 billion, alongside a high P/E ratio of 197.72, reflecting investor expectations for future growth.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shares traded down 2% on Friday . The company traded as low as $77.71 and last traded at $78.36. 1,405,599 shares were traded during trading, a decline of 71% from the average session volume of 4,827,837 shares. The stock had previously closed at $79.92.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CCJ shares. Royal Bank Of Canada raised their target price on Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. UBS Group restated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group boosted their target price on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Stock Performance

The company has a market cap of $34.45 billion, a P/E ratio of 197.80 and a beta of 1.03. The company's 50-day moving average is $68.07 and its two-hundred day moving average is $53.46. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. Cameco's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. Equities analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mutual Advisors LLC bought a new stake in shares of Cameco in the second quarter valued at approximately $275,000. Bayforest Capital Ltd lifted its holdings in shares of Cameco by 84.7% in the second quarter. Bayforest Capital Ltd now owns 2,568 shares of the basic materials company's stock worth $191,000 after buying an additional 1,178 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Cameco by 3.7% in the second quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company's stock worth $158,141,000 after buying an additional 77,081 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Cameco in the second quarter worth about $202,000. Finally, Concord Wealth Partners purchased a new stake in shares of Cameco in the second quarter worth about $103,000. 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.