Cameco (NYSE:CCJ) Shares Down 5.7% - What's Next?

Key Points

• Cameco Corporation saw its shares decline by 5.7%, trading as low as $73.96, with a significant decrease in trading volume.
• Research analysts hold a positive outlook on Cameco, with twelve analysts rating it as a "buy" and a consensus target price of $82.65.
• The company reported $0.51 EPS for the last quarter, significantly beating the consensus estimate and demonstrating a 46.7% increase in revenue year-over-year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shares traded down 5.7% on Wednesday . The company traded as low as $75.25 and last traded at $73.96. 1,400,485 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 4,773,197 shares. The stock had previously closed at $78.43.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent research reports. TD Securities reissued a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Glj Research restated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Twelve research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Cameco currently has an average rating of "Buy" and a consensus target price of $82.65.

Cameco Price Performance

The company's 50-day simple moving average is $72.81 and its 200-day simple moving average is $55.49. The stock has a market capitalization of $33.00 billion, a price-to-earnings ratio of 87.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

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 (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%. The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. Research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently modified their holdings of CCJ. Westerkirk Capital Inc. bought a new stake in shares of Cameco during the 2nd quarter valued at approximately $1,635,000. Quantbot Technologies LP grew its position in shares of Cameco by 211.0% in the 2nd quarter. Quantbot Technologies LP now owns 68,041 shares of the basic materials company's stock valued at $5,051,000 after buying an additional 46,165 shares during the last quarter. De Lisle Partners LLP grew its position in shares of Cameco by 2.6% in the 2nd quarter. De Lisle Partners LLP now owns 495,361 shares of the basic materials company's stock valued at $36,759,000 after buying an additional 12,655 shares during the last quarter. Lido Advisors LLC increased its stake in shares of Cameco by 7.0% in the second quarter. Lido Advisors LLC now owns 5,315 shares of the basic materials company's stock valued at $395,000 after buying an additional 350 shares during the period. Finally, Colonial Trust Advisors raised its position in shares of Cameco by 0.3% during the second quarter. Colonial Trust Advisors now owns 59,753 shares of the basic materials company's stock worth $4,435,000 after acquiring an additional 172 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

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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