Cameco (NYSE:CCJ) Reaches New 12-Month Low - Here's What Happened

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares hit a new 52-week low during trading on Monday . The company traded as low as $35.00 and last traded at $37.53, with a volume of 2828922 shares trading hands. The stock had previously closed at $37.83.

Analysts Set New Price Targets

CCJ has been the topic of a number of recent research reports. Stifel Nicolaus began coverage on Cameco in a research report on Wednesday, March 12th. They set a "buy" rating on the stock. Sanford C. Bernstein started coverage on Cameco in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 target price for the company. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. StockNews.com lowered shares of Cameco from a "hold" rating to a "sell" rating in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. 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. According to MarketBeat, Cameco currently has a consensus rating of "Buy" and a consensus target price of $70.03.

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Cameco Stock Performance

The stock's 50 day moving average is $43.73 and its two-hundred day moving average is $50.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market capitalization of $17.88 billion, a P/E ratio of 146.89 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted 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. The company had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, equities analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC lifted its stake in Cameco by 4.8% in the third quarter. EP Wealth Advisors LLC now owns 6,921 shares of the basic materials company's stock valued at $331,000 after buying an additional 320 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Cameco during the third quarter worth $1,768,000. Geode Capital Management LLC grew its position in Cameco by 10.2% in the third quarter. Geode Capital Management LLC now owns 1,911,614 shares of the basic materials company's stock valued at $91,558,000 after purchasing an additional 177,551 shares in the last quarter. Toronto Dominion Bank lifted its position in Cameco by 172.3% during the 3rd quarter. Toronto Dominion Bank now owns 817,028 shares of the basic materials company's stock worth $39,021,000 after buying an additional 517,035 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Cameco by 97.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,969 shares of the basic materials company's stock worth $667,000 after buying an additional 6,901 shares during the last quarter. 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.