Cameco (NYSE:CCJ) Stock Price Down 2% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 2% during trading on Friday . The company traded as low as $83.15 and last traded at $85.6080. Approximately 4,752,435 shares changed hands during trading, an increase of 28% from the average daily volume of 3,700,649 shares. The stock had previously closed at $87.36.

Analysts Set New Price Targets

CCJ has been the subject of several research reports. Royal Bank Of Canada increased their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.18.

Cameco Stock Down 2.0%

The firm has a market capitalization of $37.28 billion, a P/E ratio of 79.27, a P/E/G ratio of 1.40 and a beta of 1.02. The company has a fifty day simple moving average of $103.83 and a 200 day simple moving average of $110.67. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. On average, equities analysts expect that Cameco Corporation will post 1.29 EPS for the current fiscal year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of CCJ. Sumitomo Mitsui Trust Group Inc. raised its position in Cameco by 35.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after acquiring an additional 139,592 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new stake in shares of Cameco in the 4th quarter worth $1,974,000. Vanguard Group Inc. increased its stake in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in Cameco by 22.5% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 836,431 shares of the basic materials company’s stock worth $90,845,000 after purchasing an additional 153,479 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its position in Cameco by 118.5% during the first quarter. Hillsdale Investment Management Inc. now owns 145,643 shares of the basic materials company’s stock valued at $15,835,000 after purchasing an additional 78,990 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

About Cameco

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.