Cameco (NYSE:CCJ) Trading Down 2% - Here's Why

Key Points

• Cameco shares fell 2% to about $114.01 on Wednesday, trading roughly 2.25 million shares—around 43% below the stock's average session volume.
• Analysts are largely bullish, with 12 Buy and 3 Hold ratings and a MarketBeat consensus of Moderate Buy and a consensus target price of $150.40.
• Cameco beat quarterly expectations (EPS $0.36 vs $0.29 est.; revenue $874.6M vs $782.1M), while showing low leverage (debt/equity 0.14) but a high P/E (~117.5), reflecting elevated growth expectations.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price fell 2% on Wednesday . The stock traded as low as $111.86 and last traded at $114.0070. 2,251,554 shares were traded during trading, a decline of 43% from the average session volume of 3,932,482 shares. The stock had previously closed at $116.31.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCJ. William Blair began coverage on Cameco in a report on Monday, April 20th. They set an "outperform" rating on the stock. Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Finally, Royal Bank Of Canada upped their target price on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Cameco presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.40.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The business has a fifty day simple moving average of $114.92 and a 200-day simple moving average of $105.01. The stock has a market capitalization of $49.65 billion, a P/E ratio of 117.53, a PEG ratio of 2.28 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued 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. The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.Cameco's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts expect that Cameco Corporation will post 1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of CCJ. Financial Consulate Inc. purchased a new stake in Cameco in the 3rd quarter valued at $25,000. Nisa Investment Advisors LLC purchased a new stake in Cameco in the 4th quarter valued at $25,000. Founders Capital Management purchased a new stake in Cameco in the 4th quarter valued at $27,000. Strategic Advocates LLC purchased a new stake in Cameco in the 3rd quarter valued at $28,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the 4th quarter valued at $28,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

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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