Cameco (NYSE:CCJ) Shares Down 3.1% - What's Next?

Key Points

• Cameco Corporation's shares fell by 3.1%, trading at around $74.46 after a significant decrease in trading volume.
• Analysts remain optimistic with an average rating of "Buy" and a consensus price target of $83.32 for Cameco stock.
• The company reported $0.51 EPS for the last quarter, exceeding expectations, but its revenue of $467.72 million fell short compared to analyst estimates.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price was down 3.1% during trading on Tuesday . The stock traded as low as $74.13 and last traded at $74.46. Approximately 1,255,790 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 4,739,175 shares. The stock had previously closed at $76.82.

Analysts Set New Price Targets

Several brokerages have commented on CCJ. Glj Research restated a "buy" rating and set a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. Royal Bank Of Canada increased their target price on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Cameco presently has an average rating of "Buy" and a consensus price target of $83.32.

Cameco Stock Performance

The firm has a fifty day simple moving average of $73.94 and a 200 day simple moving average of $56.28. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The stock has a market cap of $32.21 billion, a price-to-earnings ratio of 85.30 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. During the same period last year, the company earned $0.14 EPS. The business's quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC grew its stake in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Dagco Inc. bought a new position in shares of Cameco during the 1st quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco in the 1st quarter worth about $29,000. Trust Co. of Vermont raised its holdings in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after acquiring an additional 350 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in Cameco in the 2nd quarter valued at about $30,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.