Cameco (NYSE:CCJ) Hits New 52-Week Low – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price reached a new 52-week low on Monday . The stock traded as low as $35.00 and last traded at $37.53, with a volume of 2828922 shares changing hands. The stock had previously closed at $37.83.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCJ. StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a report on Wednesday, April 2nd. Sanford C. Bernstein started coverage on Cameco in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus initiated coverage on Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Price Performance

The stock has a market cap of $17.43 billion, a price-to-earnings ratio of 142.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a 50-day simple moving average of $44.30 and a two-hundred day simple moving average of $50.21.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly 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 firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

Institutional investors have recently bought and sold shares of the business. Sierra Ocean LLC acquired a new position in shares of Cameco during the 4th quarter worth approximately $25,000. Hurley Capital LLC bought a new position in Cameco during the fourth quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Cameco in the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in shares of Cameco in the fourth quarter valued at about $33,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Cameco during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Cameco

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.