Cameco (NYSE:CCJ) Stock Price Down 4.1% - Here's What Happened

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares fell 4.1% on Thursday . The stock traded as low as $51.55 and last traded at $51.79. 1,573,311 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 4,387,771 shares. The stock had previously closed at $53.98.

Analysts Set New Price Targets

Several analysts recently commented on CCJ shares. National Bank Financial raised shares of Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Glj Research reiterated a "buy" rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald upgraded Cameco from a "neutral" rating to an "overweight" rating in a research note on Wednesday, July 31st. Janney Montgomery Scott raised Cameco to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cameco currently has an average rating of "Buy" and a consensus price target of $66.56.

Cameco Stock Down 3.2 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The stock's fifty day simple moving average is $47.00 and its two-hundred day simple moving average is $48.02. The stock has a market capitalization of $22.73 billion, a P/E ratio of 121.47 and a beta of 0.90.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco's quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) earnings per share. As a group, research analysts expect that Cameco Co. will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Large investors have recently modified their holdings of the company. LRI Investments LLC bought a new position in Cameco during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 238 shares during the period. JFS Wealth Advisors LLC increased its position in shares of Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 550 shares during the last quarter. Larson Financial Group LLC grew its position in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company's stock valued at $52,000 after buying an additional 600 shares during the period. Finally, Blue Trust Inc. increased its holdings in Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company's stock worth $77,000 after buying an additional 642 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.