Cameco (NYSE:CCJ) Shares Down 2.5% - Here's Why

Key Points

• Cameco Corporation's shares fell by 2.5%, trading as low as $90.40, with a recent trading price of $91.14, after a previous close at $93.46.
• Analysts maintain a generally positive outlook, with an average rating of "Buy," but Wall Street Zen downgraded the stock from "Buy" to "Hold."
• The company's recent earnings report showed an EPS of $0.51, significantly exceeding analysts' expectations, but revenue fell short, coming in at $467.72 million.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shares traded down 2.5% during trading on Thursday . The stock traded as low as $90.40 and last traded at $91.14. 4,879,195 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 4,767,975 shares. The stock had previously closed at $93.46.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Securities restated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Friday, October 10th. National Bankshares restated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. Finally, Wall Street Zen cut Cameco from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $89.55.

Cameco Stock Down 2.5%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market cap of $39.68 billion, a PE ratio of 104.76 and a beta of 0.99. The stock has a fifty day moving average price of $80.72 and a 200-day moving average price of $66.70.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Griffin Asset Management Inc. purchased a new position in Cameco in the 3rd quarter worth approximately $239,000. Whitaker Myers Wealth Managers LTD. purchased a new position in Cameco in the 3rd quarter worth approximately $845,000. CWM LLC boosted its holdings in Cameco by 35.7% in the 3rd quarter. CWM LLC now owns 9,314 shares of the basic materials company's stock worth $781,000 after acquiring an additional 2,451 shares during the period. Gemmer Asset Management LLC purchased a new position in Cameco in the 3rd quarter worth approximately $971,000. Finally, Pure Portfolios Holdings LLC boosted its holdings in Cameco by 31.3% in the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,735 shares of the basic materials company's stock worth $313,000 after acquiring an additional 891 shares during the period. Hedge funds and other 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.

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