Cameco (NYSE:CCJ) Trading Down 1.3% - Here's What Happened

Key Points

• Shares of Cameco fell about 1.3% to roughly $122.26 midday, with ~2.20 million shares traded—about 45% below its average daily volume.
• Analysts remain largely positive: 12 Buy ratings vs. 3 Holds, a consensus "Moderate Buy" and an average price target of $150.40, with some firms raising targets up to $202.
• Cameco beat quarterly estimates (EPS $0.36 vs. $0.29 expected; revenue $874.6M vs. $782.1M expected) and institutional investors hold about 70% of the shares.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO dropped 1.3% during mid-day trading on Friday . The stock traded as low as $121.91 and last traded at $122.2640. Approximately 2,196,213 shares were traded during trading, a decline of 45% from the average daily volume of 3,987,698 shares. The stock had previously closed at $123.85.

Analysts Set New Price Targets

CCJ has been the topic of several research reports. Sanford C. Bernstein reissued an "outperform" rating and set a $147.00 price target on shares of Cameco in a research report on Thursday, February 5th. Glj Research reissued a "buy" rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce increased their target price on Cameco to $202.00 in a research report on Monday, March 9th. Finally, William Blair assumed coverage on Cameco in a research report on Monday. They issued an "outperform" rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $150.40.

Cameco Stock Performance

The company has a market cap of $53.25 billion, a P/E ratio of 126.05 and a beta of 1.02. The company has a 50 day moving average price of $114.47 and a 200-day moving average price of $104.03. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $782.13 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts expect that Cameco Corporation will post 1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Abbington Investment Group acquired a new position in shares of Cameco in the 3rd quarter valued at $6,506,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Cameco by 79.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company's stock worth $20,964,000 after acquiring an additional 110,629 shares during the period. NWF Advisory Services Inc. purchased a new stake in shares of Cameco during the 3rd quarter worth about $1,996,000. Thames Capital Management LLC raised its stake in shares of Cameco by 66.8% during the 3rd quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company's stock worth $8,978,000 after purchasing an additional 42,879 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Cameco by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,755,802 shares of the basic materials company's stock worth $231,102,000 after purchasing an additional 202,279 shares in the last quarter. Institutional investors 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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