Cameco (NYSE:CCJ) Trading Down 2.3% - Here's Why

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price traded down 2.3% during mid-day trading on Thursday . The company traded as low as $69.32 and last traded at $69.91. 2,563,952 shares were traded during mid-day trading, a decline of 44% from the average session volume of 4,547,872 shares. The stock had previously closed at $71.55.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada boosted their target price on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Stifel Nicolaus initiated coverage on shares of Cameco in a research note on Wednesday, March 12th. They set a "buy" rating on the stock. Finally, Glj Research reaffirmed a "buy" rating and set a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Trading Down 1.2%

The company has a market cap of $30.76 billion, a price-to-earnings ratio of 176.08 and a beta of 1.03. The business's fifty day moving average price is $61.57 and its 200 day moving average price is $51.41. 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 earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. Cameco's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atticus Wealth Management LLC acquired a new position in Cameco in the second quarter valued at $34,000. Hurley Capital LLC bought a new position in shares of Cameco during the 4th quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco during the 4th quarter worth about $28,000. Manchester Capital Management LLC boosted its position in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Finally, Dagco Inc. bought a new stake in Cameco in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 70.21% of the company's stock.

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.

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