Cameco (NYSE:CCJ) Shares Down 4.8% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was down 4.8% during mid-day trading on Friday . The company traded as low as $44.05 and last traded at $44.31. Approximately 2,344,339 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 4,526,420 shares. The stock had previously closed at $46.54.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Performance

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 stock has a 50 day simple moving average of $50.79 and a two-hundred day simple moving average of $49.67. The stock has a market capitalization of $18.96 billion, a P/E ratio of 155.55 and a beta of 0.94.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CCJ. Blue Trust Inc. boosted its stake in shares of Cameco by 68.8% during the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 642 shares during the period. Private Advisor Group LLC boosted its stake in shares of Cameco by 8.3% during the 3rd quarter. Private Advisor Group LLC now owns 65,251 shares of the basic materials company’s stock worth $3,117,000 after acquiring an additional 5,011 shares during the period. International Assets Investment Management LLC bought a new position in shares of Cameco during the 3rd quarter worth approximately $95,830,000. Assenagon Asset Management S.A. boosted its stake in Cameco by 22.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 21,497 shares of the basic materials company’s stock valued at $1,027,000 after purchasing an additional 3,899 shares during the period. Finally, Dakota Wealth Management boosted its stake in Cameco by 4.1% in the 3rd quarter. Dakota Wealth Management now owns 33,288 shares of the basic materials company’s stock valued at $1,590,000 after purchasing an additional 1,323 shares during the period. 70.21% of the stock is currently owned by institutional investors.

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.