Cameco (NYSE:CCJ) Stock Price Down 5% - What's Next?

Key Points

• Down 5% intraday — Cameco shares fell to $114.20 (previous close $120.24) with ~3.83M shares traded, about 15% below average volume.
• Analyst sentiment is positive overall with a consensus "Moderate Buy" and an average target of $143.03; several firms raised price targets (e.g., RBC to $160, GLJ to $171.20) while one downgraded to Hold.
• Cameco beat estimates last quarter ($0.36 EPS vs $0.29 est; $874.6M revenue vs $782.1M est); the stock has a market cap of ~$49.7B, a P/E of ~118, and ~70% institutional ownership.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shares were down 5% during mid-day trading on Thursday . The stock traded as low as $111.05 and last traded at $114.20. Approximately 3,826,391 shares changed hands during trading, a decline of 15% from the average daily volume of 4,497,947 shares. The stock had previously closed at $120.24.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CCJ shares. Royal Bank Of Canada increased their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research note on Wednesday, January 14th. Glj Research restated a "buy" rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Wall Street Zen downgraded Cameco from a "buy" rating to a "hold" rating in a report on Saturday, November 8th. Finally, National Bank Financial reissued an "outperform" rating on shares of Cameco in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $143.03.

Cameco Stock Performance

The stock's 50 day simple moving average is $113.61 and its two-hundred day simple moving average is $95.82. The company has a market capitalization of $49.74 billion, a P/E ratio of 117.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Bison Wealth LLC grew its holdings in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC lifted its position in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock valued at $393,000 after buying 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 acquiring 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 acquiring an additional 64,512 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Cameco by 936.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company's stock worth $36,000 after acquiring an additional 440 shares during the last quarter. Institutional investors and hedge funds 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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