Cameco (NYSE:CCJ) Stock Price Down 1.3% - What's Next?

Key Points

• Cameco Corporation shares decreased by 1.3% on Monday, with trading volumes significantly lower than average, indicating reduced investor activity.
• Analysts maintain a consensus "Buy" rating for Cameco, with price targets ranging from $70.00 to $80.65, reflecting continued confidence in the company's growth potential.
• The company reported lower-than-expected earnings for the last quarter, earning $0.11 per share against a forecast of $0.18, while revenue was also below expectations at $549.58 million.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shares dropped 1.3% during mid-day trading on Monday . The stock traded as low as $77.90 and last traded at $78.55. Approximately 1,155,293 shares changed hands during trading, a decline of 76% from the average daily volume of 4,817,103 shares. The stock had previously closed at $79.60.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCJ. UBS Group reiterated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. The Goldman Sachs Group upped 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 reissued a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Finally, Desjardins initiated coverage on Cameco in a research note on Friday, April 4th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $80.65.

Cameco Price Performance

The firm has a fifty day simple moving average of $68.07 and a 200 day simple moving average of $53.46. The company has a market capitalization of $34.29 billion, a PE ratio of 196.94 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CCJ. Manchester Capital Management LLC increased its position in Cameco by 100.0% during 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. Hurley Capital LLC purchased a new stake in Cameco in the fourth quarter valued at $27,000. Dagco Inc. purchased a new stake in Cameco in the 1st quarter valued at $28,000. SVB Wealth LLC acquired a new position in Cameco in the first quarter valued at $29,000. Finally, Trust Co. of Vermont raised its holdings in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $29,000 after buying an additional 350 shares during the last quarter. Hedge funds and other 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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