Cameco (NYSE:CCJ) Stock Price Down 2.2% - Here's Why

Key Points

• Cameco shares fell 2.2% on Friday to about $120.39 (intraday low $117.90) with roughly 2.15 million shares traded, about 45% below the stock's average daily volume.
• Analyst sentiment is broadly positive with a "Moderate Buy" consensus (12 Buys, 3 Holds) and a consensus price target of $150.40, while some firms have lifted targets sharply (e.g., CIBC $202, GLJ $171.20).
• Cameco recently beat quarterly estimates with EPS of $0.36 vs. $0.29 expected and revenue of $874.6M vs. $782.1M, and the company has a market cap of $52.44B, a P/E of 124.12, and about 70% institutional ownership.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO dropped 2.2% during trading on Friday . The stock traded as low as $117.90 and last traded at $120.3940. Approximately 2,146,426 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 3,900,046 shares. The stock had previously closed at $123.04.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent research reports. Glj Research reissued a "buy" rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. TD Securities downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings raised shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. William Blair initiated coverage on shares of Cameco in a research report on Monday, April 20th. They issued an "outperform" rating for the company. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Cameco to $202.00 in a research report on Monday, March 9th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco has an average rating of "Moderate Buy" and a consensus price target of $150.40.

Cameco Trading Down 2.2%

The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The company's fifty day moving average is $114.95 and its 200-day moving average is $105.19. The firm has a market capitalization of $52.44 billion, a P/E ratio of 124.12, a P/E/G ratio of 2.11 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. Cameco's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.2 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several large investors have recently modified their holdings of CCJ. Bison Wealth LLC boosted its holdings in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC raised its stake in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock valued at $393,000 after purchasing an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock valued at $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock valued at $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco during the 2nd quarter valued at $14,252,000. 70.21% of the stock is owned by institutional investors.

About Cameco

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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