Cameco (NYSE:CCJ) Stock Price Down 4.5% - Here's Why

Key Points

• Shares down 4.5% intraday to a low of $100.11 (last $101.80) on ~5.38M shares traded, about 22% above average session volume.
• Analysts remain largely bullish — 13 Buys vs. 2 Holds with a consensus "Moderate Buy" and a consensus price target of $150.40; several firms raised targets (RBC to $160, CIBC to $202) while Zacks cut to Hold.
• Cameco beat quarterly expectations with $0.36 EPS vs. $0.29 expected and revenue of $874.6M vs. $782.1M, and the stock has a market cap of $44.34B and a P/E of 104.95.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO fell 4.5% during mid-day trading on Friday . The stock traded as low as $100.11 and last traded at $101.80. 5,381,979 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 4,410,629 shares. The stock had previously closed at $106.60.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Royal Bank Of Canada upped their price objective on Cameco from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce increased their target price on Cameco to $202.00 in a research report on Monday, March 9th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.40.

Cameco Trading Down 4.5%

The stock has a market cap of $44.34 billion, a P/E ratio of 104.95 and a beta of 0.98. 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 fifty day moving average is $117.07 and its 200 day moving average is $98.53.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping 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 analysts' expectations of $782.13 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bison Wealth LLC increased its position in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after acquiring an additional 2,975 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after acquiring an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 worth $24,895,000 after purchasing an additional 64,512 shares during the period. Finally, Creative Planning grew its holdings in Cameco by 3.0% during the 2nd quarter. Creative Planning now owns 63,884 shares of the basic materials company's stock valued at $4,742,000 after purchasing an additional 1,873 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

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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