Cameco (NYSE:CCJ) Shares Down 2.3% - What's Next?

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO were down 2.3% during trading on Friday . The company traded as low as $67.76 and last traded at $68.06. Approximately 1,789,828 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 4,392,960 shares. The stock had previously closed at $69.67.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, May 14th. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Wednesday. UBS Group reissued a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Royal Bank Of Canada raised their price objective on Cameco from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Stifel Nicolaus started coverage on Cameco in a report on Wednesday, March 12th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cameco currently has an average rating of "Buy" and an average price target of $77.30.

Cameco Trading Down 1.3%

The stock has a 50 day simple moving average of $53.17 and a 200-day simple moving average of $49.87. The firm has a market capitalization of $29.93 billion, a P/E ratio of 171.79 and a beta of 0.97. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its holdings in Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after purchasing an additional 3,959,837 shares in the last quarter. Norges Bank purchased a new position in Cameco in the 4th quarter worth approximately $188,595,000. FMR LLC lifted its holdings in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after purchasing an additional 1,811,876 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in Cameco in the 1st quarter worth approximately $55,513,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.

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