Cameco (NYSE:CCJ) Trading Down 0.7% - Here's What Happened

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO traded down 0.7% during trading on Thursday . The stock traded as low as $41.87 and last traded at $42.30. 511,620 shares were traded during mid-day trading, a decline of 88% from the average session volume of 4,127,430 shares. The stock had previously closed at $42.60.

Analysts Set New Price Targets

CCJ has been the subject of a number of research analyst reports. Glj Research lifted their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a report on Wednesday. Stifel Nicolaus assumed coverage on shares of Cameco in a research note on Wednesday. They set a "buy" rating for the company. StockNews.com cut Cameco from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, Royal Bank of Canada restated an "outperform" rating and set a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $73.64.

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Cameco Price Performance

The firm has a market capitalization of $18.27 billion, a P/E ratio of 150.30 and a beta of 1.04. 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 stock's fifty day simple moving average is $48.22 and its 200 day simple moving average is $49.96.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.09 billion. On average, equities research analysts predict that Cameco Co. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dantai Capital Ltd increased its holdings in shares of Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company's stock valued at $2,735,000 after acquiring an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC purchased a new stake in Cameco during the 4th quarter worth approximately $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco during the 4th quarter valued at approximately $445,000. Sprott Inc. raised its holdings in shares of Cameco by 44.5% in the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company's stock worth $5,750,000 after buying an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Cameco during the third quarter worth $5,305,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.

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