Cameco (NYSE:CCJ) Stock Price Drops 0.4% - What Lies Ahead?

Cameco Corporation (NYSE:CCJ - Get Free Report) experienced a 0.4% drop in its stock price during mid-day trading on Friday. The shares were noted to have traded as low as $44.02 before closing at $44.66. In total, 912,435 shares were traded, marking a significant decline of 78% from the average session volume of 4,078,281 shares. The stock had its previous closing price at $44.85.

Recent Analyst Changes

Various research firms have recently updated their ratings and price targets for Cameco. Stifel Nicolaus, for instance, began coverage on the stock with a "buy" rating in a report released on March 12. Additionally, GLJ Research increased their target price for Cameco from $62.76 to $75.68, also assigning it a "buy" rating. Stifel Canada has given cameco a "strong-buy" rating in the same research note. Meanwhile, Royal Bank of Canada maintained an "outperform" rating with a target set at $90.00, and StockNews.com upgraded the stock from a "sell" to a "hold" rating. Current consensus data from MarketBeat.com shows that one analyst rates the stock as a hold, while seven recommend buying it and three suggest a strong buy, giving Cameco an overall consensus rating of "Buy" and an average target price of $73.64.

Cameco's Financial Overview

At present, Cameco boasts a quick ratio of 1.26 and a current ratio of 2.88. The company has a debt-to-equity ratio of 0.20, a market capitalization of $19.28 billion, a PE ratio of 158.18, and a beta of 1.04. The fifty-day moving average stands at $47.13, with the 200-day moving average at $49.99.

The latest earnings report from Cameco was released on February 20, where it revealed earnings per share (EPS) of $0.26, meeting analyst expectations. The company reported a net margin of 5.39% and a return on equity of 4.34%, with quarterly revenue amounting to $845.54 million whereas analysts anticipated about $1.09 billion. Predictions indicate that Cameco will post an EPS of 1.27 for the current fiscal year.

Institutional Holdings Update

Recent activity among institutional investors has seen changes in their holdings of Cameco. For instance, Dantai Capital Ltd increased its stake in the company by 44.2% in the third quarter, acquiring an additional 17,560 shares to reach a grand total of 57,260 shares valued at $2,735,000. Roberts Wealth Advisors LLC and Whalen Wealth Management Inc. also entered new positions in Cameco during the fourth quarter with stakes valued at $895,000 and $445,000 respectively. Moreover, Sprott Inc. raised their holdings by 44.5%, now owning 111,896 shares worth $5,750,000 after purchasing an additional 34,483 shares. Overall, institutional investors and hedge funds now collectively own 70.21% of the company's shares.

Company Overview

Cameco Corporation is primarily focused on providing uranium, which is utilized for electricity generation. The company operates through several segments, including Uranium, Fuel Services, and Westinghouse. The Uranium segment engages in the exploration, mining, and milling of uranium, while the Fuel Services segment deals with the refining, conversion, and fabrication of uranium concentrate.

Cameco, Stocks, Investment