Shares of Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) fell 2.8% on Tuesday . The stock traded as low as $112.35 and last traded at $116.7990. 3,796,809 shares traded hands during trading, a decline of 2% from the average session volume of 3,872,633 shares. The stock had previously closed at $120.14.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CCJ. William Blair began coverage on Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.13.
Read Our Latest Analysis on Cameco
Cameco Trading Down 2.8%
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. Analysts expect that Cameco Corporation will post 1.22 EPS for the current fiscal year.
Hedge Funds Weigh In On Cameco
Several institutional investors and hedge funds have recently modified their holdings of CCJ. Nisa Investment Advisors LLC acquired a new position in shares of Cameco in the 4th quarter valued at about $25,000. Founders Capital Management acquired a new position in shares of Cameco in the 4th quarter valued at about $27,000. Strategic Advocates LLC acquired a new position in shares of Cameco in the 3rd quarter valued at about $28,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco in the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.
Cameco Company Profile
Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.
The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.
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