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

Cameco Corporation (NYSE:CCJ - Get Free Report) experienced a share price drop of 1.8% on Thursday, trading as low as $49.06 before closing at $49.44. Around 758,464 shares were exchanged during the trading session, which is a significant decline of 84% compared to the average daily volume of 4,667,173 shares. The previous day's closing price was $50.35.

Price Performance Overview

The stock has a 50-day moving average of $52.88, while the 200-day moving average stands at $49.36. With a market capitalization of $21.75 billion, Cameco has a price-to-earnings ratio of 263.02 and a beta of 0.94. The company is relatively stable with a debt-to-equity ratio of 0.20 and strong liquidity ratios, including a quick ratio of 1.26 and a current ratio of 2.88.

Earnings Report Highlights

Cameco recently released its quarterly earnings data on November 7th. The company reported earnings per share (EPS) of ($0.01), falling short of analysts' expectations of $0.39 by a substantial margin of $0.40. However, revenue for the quarter reached $721 million, surpassing the anticipated $646.83 million. Compared to the same quarter last year, Cameco's revenue increased by 25.4%. In the previous year’s quarter, Cameco had an EPS of $0.24. Analysts predict that the company will post an EPS of 0.44 for the current fiscal year.

Investor Activity

Recent activity among institutional investors and hedge funds shows mixed movements regarding Cameco shares. Glenmede Trust Co. NA increased its stake by 2.1% during the third quarter, resulting in ownership of 9,149 shares valued at $437,000 after acquiring 191 additional shares. S.A. Mason LLC also raised its holdings by 6.0%, now holding 3,655 shares valued at $175,000 after purchasing an extra 206 shares. EdgeRock Capital LLC modestly increased its ownership by 1.7% as well. In contrast, Larson Financial Group LLC made a significant move by growing its position by 37.4%. Additionally, Thurston Springer Miller Herd & Titak Inc. raised its stake by a considerable 71.5%. Overall, about 70.21% of Cameco's stock is owned by institutional investors.

About Cameco

Cameco Corporation is primarily involved in providing uranium to generate electricity. The company operates through three segments: Uranium, Fuel Services, and Westinghouse. Its Uranium segment focuses on the exploration, mining, and sale of uranium concentrate, whereas Fuel Services engages in refining, conversion, and fabrication of uranium.

Considering an Investment in Cameco

Before making investment decisions regarding Cameco, it is essential to consider the broader market environment and expert recommendations. While the stock holds a "Buy" rating among analysts, it may be worthwhile to explore alternative investment opportunities that are gaining attention among top-rated analysts.

While this report provides a snapshot of Cameco's current situation, investors are encouraged to conduct thorough research and consult financial advisors before making any decisions.

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