Cameco (NYSE:CCJ) Shares Down 2.6% - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares traded down 2.6% on Thursday . The company traded as low as $59.20 and last traded at $58.83. 1,574,382 shares were traded during trading, a decline of 62% from the average session volume of 4,198,052 shares. The stock had previously closed at $60.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Cameco in a research note on Tuesday, May 20th. They issued a "buy" rating and a $65.00 target price on the stock. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Wednesday, May 14th. Desjardins assumed coverage on shares of Cameco in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Glj Research boosted their target price on shares of Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $70.53.

Cameco Price Performance

The stock has a market capitalization of $25.47 billion, a P/E ratio of 208.93 and a beta of 0.89. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $46.27 and a two-hundred day simple moving average of $49.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts expect that Cameco Co. will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in shares of Cameco in the 4th quarter valued at about $25,000. Manchester Capital Management LLC increased its stake in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Cameco in the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Cameco in the 4th quarter valued at about $28,000. Finally, Dagco Inc. bought a new stake in shares of Cameco in the 1st quarter valued at about $28,000. 70.21% of the stock is owned by institutional investors.

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.