Cameco (NYSE:CCJ) Stock Price Down 2.4% - Here's What Happened

Key Points

• Cameco shares fell 2.4% to about $116.28 midday (low $115.60) on Thursday, with roughly 3.88 million shares traded—about 20% below average daily volume.
• Analysts remain broadly positive: the consensus rating is a Buy with a consensus target of $131.39, including Sanford C. Bernstein's $147 price objective and a Zacks upgrade to "strong-buy."
• Institutional investors own roughly 70.21% of the stock, with large holders (Vanguard, Capital World, VanEck) increasing stakes; Cameco has a $50.64B market cap and a P/E of 135.21.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO were down 2.4% on Thursday . The company traded as low as $115.60 and last traded at $116.2830. Approximately 3,883,828 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 4,870,853 shares. The stock had previously closed at $119.18.

Analyst Ratings Changes

Several equities research analysts have recently commented on CCJ shares. Zacks Research raised Cameco from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 14th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, January 14th. Sanford C. Bernstein reissued an "outperform" rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Wall Street Zen lowered shares of Cameco from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $131.39.

Cameco Stock Performance

The stock's 50-day simple moving average is $105.99 and its 200-day simple moving average is $91.62. The stock has a market cap of $50.64 billion, a price-to-earnings ratio of 135.21 and a beta of 0.99. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock valued at $1,653,639,000 after buying an additional 258,193 shares in the last quarter. Capital World Investors increased its holdings in shares of Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after buying an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cameco by 0.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock valued at $1,089,080,000 after acquiring an additional 85,762 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock valued at $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock worth $456,530,000 after acquiring an additional 1,644,061 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

Cameco Company Profile

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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