Cameco (NYSE:CCJ) Trading Down 5.7% - Here's What Happened

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO were down 5.7% during trading on Tuesday . The company traded as low as $63.00 and last traded at $63.10. Approximately 4,945,115 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 4,294,511 shares. The stock had previously closed at $66.91.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCJ. Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a research note on Tuesday. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $75.70.

Cameco Trading Up 3.8%

The company has a market cap of $28.85 billion, a PE ratio of 236.70 and a beta of 0.97. The company's 50 day simple moving average is $48.97 and its two-hundred day simple moving average is $49.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts anticipate that Cameco Co. will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently bought and sold shares of CCJ. Sierra Ocean LLC acquired a new position in shares of Cameco in the fourth quarter valued at approximately $25,000. Manchester Capital Management LLC increased its position 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 worth $25,000 after acquiring an additional 300 shares during the period. Hurley Capital LLC acquired a new stake in shares of Cameco in the fourth quarter valued at $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Cameco in the fourth quarter valued at $28,000. Finally, Dagco Inc. acquired a new position in Cameco during the 1st quarter worth $28,000. Institutional investors and hedge funds 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.