Cameco (NYSE:CCJ) Shares Down 1.8% - Here's Why

Cameco Corporation (NYSE:CCJ) saw a decline in its share price of 1.8% on Thursday. The stock reached a low of $49.06 before closing at $49.44, a noticeable drop from the previous day’s closing price of $50.35. During the trading session, around 758,464 shares were exchanged, which was a significant decrease of 84% compared to the usual daily trading volume of 4,667,173 shares.

Cameco's Recent Price Performance

The company has been fluctuating within a range, indicated by a 50-day moving average of $52.88 and a 200-day moving average of $49.36. Cameco holds a market capitalization of $21.75 billion and has a high price-to-earnings ratio of 263.02. Additionally, it has a beta value of 0.94, suggesting lower volatility compared to the broader market. Its financial health is illustrated by a debt-to-equity ratio of 0.20 and strong liquidity ratios with a quick ratio of 1.26 and a current ratio of 2.88.

Earnings Report Insights

Cameco recently released its quarterly earnings data, revealing a loss of $0.01 earnings per share (EPS), which fell short of the consensus estimate of $0.39 by $0.40. The company reported revenue of $721 million, surpassing expectations of $646.83 million. Although the net margin stood at 4.15% with a return on equity of 3.33%, the firm experienced a 25.4% increase in revenue compared to the same quarter last year when it reported an EPS of $0.24. Analysts predict that Cameco will post an EPS of 0.44 for the current fiscal year.

Recent Institutional Movements

Recently, various institutional investors have adjusted their positions in Cameco. Glenmede Trust Co. NA increased its stake by 2.1%, holding 9,149 shares worth approximately $437,000. Similarly, S.A. Mason LLC raised its holdings by 6.0% to own 3,655 shares valued at $175,000. Meanwhile, EdgeRock Capital LLC slightly increased its stake by 1.7%, owning 13,689 shares worth $654,000. Larson Financial Group LLC significantly grew its position in the fourth quarter by 37.4%, now holding 830 shares valued at $43,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake by a remarkable 71.5%, owning 571 shares valued at $27,000. Currently, approximately 70.21% of Cameco’s shares are held by institutional investors and hedge funds.

About Cameco Corporation

Cameco Corporation is a leading provider of uranium, which is critical for electricity generation. The company operates through various segments, including Uranium, Fuel Services, and Westinghouse. The Uranium segment focuses on uranium exploration, mining, and milling, as well as the purchase and sale of uranium concentrate. The Fuel Services segment deals with the refining, conversion, and fabrication of uranium concentrate, along with licensing conversion services.

Investment Considerations

If you are contemplating an investment in Cameco, you should know that while the company currently holds a "Buy" rating among stock analysts, there are other stocks that might offer a better investment opportunity based on recent analyst recommendations.

Cameco, Stocks, Earnings