Cameco (NYSE:CCJ) Shares Down 4.8% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded down 4.8% during mid-day trading on Friday . The stock traded as low as $44.05 and last traded at $44.31. 2,344,339 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,526,420 shares. The stock had previously closed at $46.54.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 155.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a fifty day simple moving average of $50.79 and a two-hundred day simple moving average of $49.67.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, equities research analysts expect that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Sierra Ocean LLC acquired a new position in shares of Cameco during the 4th quarter worth $25,000. Hurley Capital LLC acquired a new position in shares of Cameco during the 4th quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Cameco during the 4th quarter worth $28,000. Pingora Partners LLC acquired a new position in shares of Cameco during the 3rd quarter worth $33,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of Cameco during the 4th quarter worth $33,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.