Cameco (NYSE:CCJ) Shares Down 4.9%

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price fell 4.9% during trading on Friday . The company traded as low as $49.09 and last traded at $49.20. 2,452,555 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 4,495,548 shares. The stock had previously closed at $51.76.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCJ. Bank of America raised their price objective on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.70.

Cameco Stock Down 4.9 %

The stock has a fifty day moving average price of $51.41 and a two-hundred day moving average price of $47.03. The company has a market cap of $21.41 billion, a P/E ratio of 126.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.69.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). The business had revenue of $470.29 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. On average, research analysts expect that Cameco Co. will post 1.35 EPS for the current year.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC lifted its holdings in Cameco by 235.3% during the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 400 shares during the period. LRI Investments LLC purchased a new stake in Cameco in the first quarter worth $26,000. Principal Securities Inc. purchased a new stake in Cameco in the fourth quarter worth $29,000. Versant Capital Management Inc purchased a new stake in Cameco in the fourth quarter worth $34,000. Finally, Sandy Spring Bank purchased a new stake in Cameco in the fourth quarter worth $43,000. 70.21% of the stock is currently owned by institutional investors.

About Cameco

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.