Cameco (NYSE:CCJ) Reaches New 1-Year Low Following Analyst Downgrade

Key Points

• Cameco shares hit a new 52-week low at $77.39 after Truist Financial cut its price target from $130 to $125, though it maintained a buy rating. Barclays also reduced its target, while analysts overall maintain a “Moderate Buy” consensus with an average target of $148.10.
• Institutional investors own approximately 70.21% of Cameco’s stock, with several firms recently initiating or expanding positions.
• Cameco’s latest quarterly results fell short of expectations: EPS was $0.13 versus the $0.26 consensus estimate, while revenue declined 6.8% year over year to $573.06 million.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO reached a new 52-week low on Friday after Truist Financial lowered their price target on the stock from $130.00 to $125.00. Truist Financial currently has a buy rating on the stock. Cameco traded as low as $77.39 and last traded at $77.30, with a volume of 594,347 shares traded. The stock had previously closed at $78.93.

A number of other research analysts also recently commented on the company. Barclays lowered their target price on Cameco from $97.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday. Weiss Ratings upgraded Cameco from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Jefferies Financial Group started coverage on Cameco in a research note on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price target for the company. Citigroup reaffirmed a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cameco presently has an average rating of "Moderate Buy" and an average price target of $148.10.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCJ. Sterling Capital Management LLC acquired a new position in Cameco during the 1st quarter valued at $30,000. Brown Lisle Cummings Inc. grew its position in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Cameco during the 1st quarter worth about $39,000. CX Institutional grew its position in Cameco by 2,181.2% during the third quarter. CX Institutional now owns 365 shares of the basic materials company's stock worth $32,000 after buying an additional 349 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Cameco during the second quarter worth about $39,000. 70.21% of the stock is owned by institutional investors.

Cameco Stock Down 1.9%

The firm has a 50 day moving average of $92.68 and a 200-day moving average of $100.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The stock has a market capitalization of $33.73 billion, a P/E ratio of 131.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%. The firm had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the previous year, the business posted $0.71 EPS. Cameco's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts expect that Cameco Corporation will post 1.07 earnings per share for the current fiscal year.

About Cameco

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco's principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.

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