Cameco (NYSE:CCJ) Stock Price Down 2.7% - Here's What Happened

Key Points

• Cameco shares fell 2.7% on Thursday, trading as low as $101.82 and last at $106.48 on volume of about 3.89 million shares, roughly 12% below the session average.
• Analysts have largely raised targets and ratings recently—13 Buys and 2 Holds—leaving a consensus of “Moderate Buy” with an average price target of $150.40.
• The company beat quarterly estimates with EPS of $0.36 vs. $0.29 and revenue of $874.6M (above $782.1M expected), and analysts forecast FY EPS of about $1.27.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price traded down 2.7% on Thursday . The company traded as low as $101.82 and last traded at $106.4820. 3,889,370 shares were traded during trading, a decline of 12% from the average session volume of 4,396,171 shares. The stock had previously closed at $109.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CCJ shares. Glj Research reiterated a "buy" rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Royal Bank Of Canada raised their target price on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $147.00 price target on shares of Cameco in a research report on Thursday, February 5th. The Goldman Sachs Group reiterated a "buy" rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Finally, Zacks Research downgraded Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $150.40.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock's 50-day simple moving average is $117.05 and its two-hundred day simple moving average is $98.48. The stock has a market cap of $46.38 billion, a price-to-earnings ratio of 109.78 and a beta of 0.98.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period last year, the business posted $0.36 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. Analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bison Wealth LLC grew its stake in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after acquiring an additional 2,975 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Cameco by 16.6% in 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 period. Integrated Wealth Concepts LLC boosted its holdings in Cameco by 48.7% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cameco by 11.9% in 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 worth $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Cameco by 3.0% during the 2nd quarter. Creative Planning now owns 63,884 shares of the basic materials company's stock worth $4,742,000 after purchasing an additional 1,873 shares during the period. 70.21% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.