Cameco (NYSE:CCJ) Stock Price Down 5.7% - What's Next?

Key Points

• Cameco's shares fell 5.7% intraday to about $116.54 on Tuesday, with ~3.73 million shares traded (roughly 7% below average) after a prior close of $123.62.
• Analysts remain broadly bullish — 12 Buy ratings vs. 3 Holds — with an average price target of $150.40 and several firms recently raising targets (e.g., CIBC to $202, GLJ to $171.20, RBC to $160).
• The company reported a quarterly beat (revenue $874.6M vs. $782.1M est.; EPS $0.36 vs. $0.29 est.), while trading at a high PE of 120.15 and a market cap near $50.8 billion.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price fell 5.7% during mid-day trading on Tuesday . The company traded as low as $116.45 and last traded at $116.5420. 3,729,702 shares changed hands during trading, a decline of 7% from the average session volume of 4,006,551 shares. The stock had previously closed at $123.62.

Analysts Set New Price Targets

CCJ has been the topic of several research reports. Glj Research reissued a "buy" rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 17th. Sanford C. Bernstein reiterated an "outperform" rating and set a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Cameco to $202.00 in a research note on Monday, March 9th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $150.40.

Cameco Stock Down 5.7%

The firm has a market cap of $50.76 billion, a PE ratio of 120.15 and a beta of 1.02. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $114.20 and a 200-day moving average price of $103.51.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The business's quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts forecast that Cameco Corporation will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently modified their holdings of the company. Clearstead Advisors LLC increased its holdings in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company's stock valued at $929,000 after buying an additional 85 shares during the last quarter. Legacy Bridge LLC lifted its holdings in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company's stock worth $1,053,000 after buying an additional 100 shares during the last quarter. Groupama Asset Managment boosted its position in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock worth $176,000 after acquiring an additional 108 shares in the last quarter. S.A. Mason LLC increased its holdings in shares of Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company's stock valued at $223,000 after acquiring an additional 111 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 112 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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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