Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s stock price fell 3.2% during trading on Tuesday . The company traded as low as $98.57 and last traded at $102.1040. 4,224,778 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 3,742,536 shares. The stock had previously closed at $105.44.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. William Blair assumed coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Royal Bank Of Canada upped their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, Barclays assumed coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.
Get Our Latest Stock Analysis on CCJ
Cameco Stock Performance
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, sell-side analysts expect that Cameco Corporation will post 1.31 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in Cameco in the fourth quarter worth approximately $25,000. Founders Capital Management bought a new position in Cameco in the fourth quarter worth approximately $27,000. Strategic Advocates LLC bought a new position in Cameco in the third quarter worth approximately $28,000. Mcguire Capital Advisors Inc. bought a new position in Cameco in the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 307 shares in the last quarter. Institutional investors 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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