Cameco (NYSE:CCJ) Stock Price Down 0.4% – What’s Next?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.4% during mid-day trading on Friday . The company traded as low as $44.02 and last traded at $44.66. 912,435 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 4,078,281 shares. The stock had previously closed at $44.85.

Analyst Ratings Changes

A number of research firms recently issued reports on CCJ. Stifel Nicolaus began coverage on shares of Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Glj Research raised their target price on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. Finally, StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and an average target price of $73.64.

Cameco Stock Down 1.3 %

The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average is $47.13 and its 200-day moving average is $49.99. The company has a market cap of $19.28 billion, a PE ratio of 158.18 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. On average, analysts predict that Cameco Co. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dantai Capital Ltd boosted its stake in shares of Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after acquiring an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of Cameco during the 4th quarter valued at $895,000. Whalen Wealth Management Inc. bought a new stake in shares of Cameco during the 4th quarter valued at $445,000. Sprott Inc. increased its holdings in Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after acquiring an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. bought a new stake in Cameco in the 3rd quarter valued at $5,305,000. Hedge funds and other institutional investors 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.