Cameco (NYSE:CCJ) Shares Down 2.3% - Here's What Happened

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

Analyst Ratings Changes

CCJ has been the subject of several recent analyst reports. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada lifted their price target on Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday. Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, May 14th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Finally, Glj Research reaffirmed a "buy" rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cameco presently has an average rating of "Buy" and a consensus price target of $77.30.

Cameco Stock Performance

The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $53.72 and a 200 day simple moving average of $49.78. The company has a market cap of $30.40 billion, a price-to-earnings ratio of 174.58 and a beta of 0.97.

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

Institutional Investors Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC lifted its position in Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the period. Hurley Capital LLC purchased a new stake in shares of Cameco during the fourth quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Cameco during the fourth quarter worth $28,000. Dagco Inc. purchased a new position in Cameco in the 1st quarter valued at $28,000. Finally, SVB Wealth LLC acquired a new position in Cameco in the 1st quarter valued at $29,000. Institutional investors and hedge funds 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.