Cameco (NYSE:CCJ) Trading Down 3% – Here’s Why

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 3% during mid-day trading on Monday . The company traded as low as $50.16 and last traded at $50.93. 1,731,752 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 4,394,276 shares. The stock had previously closed at $52.50.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCJ. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Finally, Scotiabank cut their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The stock has a market capitalization of $22.44 billion, a PE ratio of 118.44 and a beta of 0.89. The stock has a 50 day moving average of $47.19 and a two-hundred day moving average of $48.05.

Institutional Trading of Cameco

Institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. LRI Investments LLC purchased a new stake in Cameco during the first quarter worth $26,000. JFS Wealth Advisors LLC boosted its position in Cameco by 130.6% during the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 550 shares in the last quarter. Larson Financial Group LLC boosted its position in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Cameco by 68.8% in the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 642 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

About Cameco

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.