Cameco (NYSE:CCJ) Trading Down 3% - Here's Why

Shares of Cameco Co. (NYSE:CCJ) experienced a 3% drop on Monday, with trading prices hitting a low of $50.16 and closing at $50.93. In total, around 1,731,752 shares were traded, marking a significant 61% decrease from its average daily volume of 4,394,276 shares. The previous close was at $52.50.

Analyst Ratings Changes

• Cameco Is the Leading Play on Nuclear Power, And It Pays to Own

Recently, several analysts have shared their views on CCJ shares. Notably, Cantor Fitzgerald upgraded Cameco from a "neutral" rating to an "overweight" rating in a report dated July 31st. Glj Research reaffirmed a "buy" rating while setting a price objective of $63.73 for Cameco on August 14th. Furthermore, National Bank Financial upgraded Cameco to a "strong-buy" rating on September 3rd. Scotiabank, however, reduced its target price from $81.00 to $80.00 while maintaining an "outperform" rating on August 19th. Lastly, Janney Montgomery Scott elevated Cameco to a "strong-buy" status in a report published on October 4th. Currently, one analyst has given the stock a sell rating, while five analysts rate it as a buy and two as a strong buy. According to MarketBeat, Cameco holds a consensus rating of "Buy" with a target price averaging $66.56.

View Our Latest Stock Analysis on Cameco

Cameco Trading Insights

• Nuclear Power Reaches Critical Mass: Top Stocks to Watch Now

The company currently reports a current ratio of 3.22, a quick ratio of 1.48, and a debt-to-equity ratio of 0.23. Cameco's 50-day simple moving average stands at $47.19, while the 200-day average is $48.05. With a market capitalization of $22.44 billion, the firm has a price-to-earnings (PE) ratio of 118.44 and a beta of 0.89, indicating its stock volatility.

Institutional Trading Activities

Several hedge funds and institutional investors have recently adjusted their holdings of CCJ. BNP Paribas established a new position in Cameco worth $93,000 during the first quarter. Additionally, Daiwa Securities Group Inc. increased its holdings by 207.3%, now owning 7,990 shares valued at $346,000 after adding 5,390 shares. Wellington Shields Capital Management LLC also boosted its stake by 6.2%, now possessing 13,700 shares worth $594,000 after acquiring 800 more shares. Larson Financial Group LLC increased its holdings by 99.3%, now holding 1,204 shares valued at $52,000 after buying 600 additional shares. Mediolanum International Funds Ltd acquired a new position valued at approximately $198,000 in the first quarter. Notably, 70.21% of Cameco's shares are currently owned by institutional investors and hedge funds.

Cameco Company Overview

Cameco Corporation specializes in supplying uranium for electricity generation. The company operates through various segments including Uranium, Fuel Services, and Westinghouse. The Uranium segment focuses on the exploration, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment is involved in refining, converting, fabricating uranium concentrate, and trading conversion services.

Market Considerations

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This report was developed using financial data and expert analysis to offer you precise information on the stock's performance.

Should You Sell Cameco?

Before deciding to invest in Cameco, it is wise to consider all available information. While analysts currently maintain a "Buy" rating on Cameco, there are indications from top analysts that other stocks might offer better investment opportunities at this time.

Cameco, Stocks, Analysis