Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) shares reached a new 52-week low on Friday after Truist Financial lowered their price target on the stock from $130.00 to $125.00. Truist Financial currently has a buy rating on the stock. Cameco traded as low as $77.39 and last traded at $77.30, with a volume of 594,347 shares traded. The stock had previously closed at $78.93.
CCJ has been the subject of a number of other research reports. Bank of America cut their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wall Street Zen cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Jefferies Financial Group started coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 price objective on the stock. Weiss Ratings upgraded Cameco from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Zacks Research downgraded Cameco from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.10.
View Our Latest Stock Report on CCJ
Institutional Trading of Cameco
Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC bought a new position in Cameco during the 1st quarter worth $30,000. Brown Lisle Cummings Inc. raised its stake in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. CX Institutional boosted its holdings in Cameco by 2,181.2% in the 3rd quarter. CX Institutional now owns 365 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 349 shares during the period. Western Wealth Management LLC bought a new stake in Cameco in the 1st quarter valued at about $39,000. Finally, Dunhill Financial LLC bought a new stake in Cameco in the 2nd quarter valued at about $39,000. 70.21% of the stock is currently owned by institutional investors.
Cameco Stock Performance
The stock’s 50-day simple moving average is $92.68 and its 200-day simple moving average is $100.62. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 131.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Analysts forecast that Cameco Corporation will post 1.07 earnings per share for the current fiscal year.
Cameco Company Profile
Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.
Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.
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