Cameco (NYSE:CCJ) Stock Price Down 5.7% - Here's Why

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price was down 5.7% during mid-day trading on Tuesday . The company traded as low as $71.38 and last traded at $70.94. Approximately 1,937,007 shares changed hands during trading, a decline of 57% from the average daily volume of 4,527,343 shares. The stock had previously closed at $75.19.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCJ. Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Desjardins began coverage on shares of Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $80.65.

Cameco Price Performance

The business's fifty day simple moving average is $60.51 and its 200 day simple moving average is $51.13. The firm has a market capitalization of $31.56 billion, a price-to-earnings ratio of 181.25 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same period last year, the business posted $0.13 earnings per share. The firm's quarterly revenue was up 24.4% on a year-over-year basis. On average, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after buying an additional 300 shares during the last quarter. Hurley Capital LLC purchased a new position in Cameco in the fourth quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Cameco in the 4th quarter valued at $28,000. Dagco Inc. purchased a new stake in shares of Cameco during the 1st quarter valued at $28,000. Finally, SVB Wealth LLC purchased a new stake in shares of Cameco during the 1st quarter valued at $29,000. 70.21% of the stock is owned by institutional investors.

Cameco Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.