Cameco (NYSE:CCJ) Stock Price Down 3.7% - What's Next?

Key Points

• Cameco Corporation's stock price fell 3.7% during mid-day trading, closing at $82.75 after hitting a low of $80.53.
• The company's quarterly earnings surpassed expectations, reporting $0.51 earnings per share, significantly beating the consensus estimate of $0.29.
• Analysts have an average rating of Buy for Cameco, with an average price target of $89.55.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price fell 3.7% during mid-day trading on Tuesday . The stock traded as low as $80.53 and last traded at $82.75. 5,829,121 shares changed hands during trading, an increase of 22% from the average session volume of 4,773,646 shares. The stock had previously closed at $85.90.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Cameco in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. BMO Capital Markets reissued an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. National Bankshares reissued an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Finally, CLSA began coverage on Cameco in a report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of "Buy" and an average target price of $89.55.

Cameco Stock Down 3.7%

The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The stock has a market cap of $36.03 billion, a P/E ratio of 95.12 and a beta of 0.99. The company has a 50-day simple moving average of $81.37 and a two-hundred day simple moving average of $68.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same quarter in the prior year, the company posted $0.14 EPS. The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Manchester Capital Management LLC raised its holdings in shares of Cameco by 100.0% during the first 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 in the last quarter. Financial Consulate Inc. purchased a new stake in shares of Cameco in the 3rd quarter worth about $25,000. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter valued at about $28,000. SVB Wealth LLC purchased a new position in shares of Cameco during the first quarter valued at about $29,000. Finally, Trust Co. of Vermont raised its stake in Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

About Cameco

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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