Cameco (NYSE:CCJ) Shares Down 5.6% - What's Next?

Key Points

• Cameco Corporation's stock price fell by 5.6% to $69.67, with trading volume declining significantly to 3.1 million shares, down from the average of 4.7 million.
• Despite the drop in share price, multiple research analysts maintain a generally positive outlook, rating Cameco as a Buy or Outperform and setting an average price target of $83.32.
• Cameco reported earnings of $0.51 per share for the last quarter, exceeding estimates, although its revenue was below forecast at $467.72 million, marking a 46.7% increase year-over-year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price was down 5.6% during mid-day trading on Wednesday . The stock traded as low as $68.96 and last traded at $69.67. Approximately 3,144,214 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 4,748,694 shares. The stock had previously closed at $73.82.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada raised their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. TD Securities restated a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $83.32.

Cameco Trading Up 4.8%

The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The firm has a market cap of $32.58 billion, a price-to-earnings ratio of 86.01 and a beta of 1.06. The business's fifty day moving average is $74.49 and its two-hundred day moving average is $56.84.

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

Institutional Trading of Cameco

A number of institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. acquired a new stake in Cameco during the 2nd quarter worth $228,000. Coppell Advisory Solutions LLC bought a new position in shares of Cameco during the second quarter worth $296,000. Tyler Stone Wealth Management bought a new position in shares of Cameco during the second quarter worth $279,000. Westwood Holdings Group Inc. bought a new position in shares of Cameco during the second quarter worth $500,000. Finally, Caxton Associates LLP boosted its position in shares of Cameco by 4,567.7% during the second quarter. Caxton Associates LLP now owns 581,226 shares of the basic materials company's stock worth $43,144,000 after purchasing an additional 568,774 shares in the last quarter. 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.