Cameco (NYSE:CCJ) Shares Down 4.8% - Here's What Happened

Key Points

• Cameco's stock experienced a decline of 4.8%, closing at $86.75, following a lower trading volume despite a recent increase in shares traded by 27% compared to average volumes.
• Analysts have downgraded Cameco from a "buy" rating to a "hold" rating, while maintaining high target prices from firms like Royal Bank Of Canada and UBS Group, indicating a consensus "Buy" rating with a target price of $89.55.
• Despite the decline, Cameco reported better-than-expected earnings per share (EPS) of $0.51, surpassing the consensus estimate, while also showing significant year-over-year revenue growth.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO traded down 4.8% on Friday . The stock traded as low as $85.00 and last traded at $86.75. 6,071,462 shares traded hands during trading, an increase of 27% from the average session volume of 4,774,735 shares. The stock had previously closed at $91.13.

Analyst Upgrades and Downgrades

CCJ has been the subject of several research analyst reports. Wall Street Zen lowered Cameco from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Friday, October 10th. Royal Bank Of Canada increased their target price on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, UBS Group set a $102.00 price target on Cameco in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $89.55.

Cameco Trading Down 4.8%

The company has a market cap of $37.77 billion, a price-to-earnings ratio of 99.71 and a beta of 0.99. The firm has a 50-day moving average price of $81.01 and a 200 day moving average price of $67.04. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15.

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

Institutional Trading of Cameco

Hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC lifted its holdings in shares of Cameco by 100.0% in the 1st 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 stake in shares of Cameco in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in Cameco during the 1st quarter valued at $29,000. Trust Co. of Vermont raised its stake in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its stake in Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 182 shares in the last quarter. 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.

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