Cameco (NYSE:CCJ) Sees Large Volume Increase

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually-high trading volume on Monday . Approximately 425,914 shares traded hands during trading, a decline of 92% from the previous session’s volume of 5,412,228 shares.The stock last traded at $26.15 and had previously closed at $24.43.

A number of equities analysts have issued reports on the stock. Raymond James raised their price objective on shares of Cameco from C$25.00 to C$29.00 and gave the company an “outperform” rating in a research note on Tuesday, September 7th. Scotiabank raised their price objective on shares of Cameco from C$25.00 to C$27.00 in a research note on Monday, July 12th. Royal Bank of Canada raised shares of Cameco from an “underperform” rating to a “sector perform” rating in a research note on Thursday, September 2nd. Finally, Zacks Investment Research cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Cameco has an average rating of “Hold” and a consensus price target of $23.67.

The company’s fifty day simple moving average is $18.30 and its two-hundred day simple moving average is $18.35. The company has a quick ratio of 5.98, a current ratio of 7.94 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of -608.00 and a beta of 1.03.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, July 27th. The basic materials company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.12). The firm had revenue of $292.25 million during the quarter. Cameco had a negative return on equity of 1.97% and a negative net margin of 1.50%. Equities research analysts expect that Cameco Co. will post -0.14 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Analysts LLC acquired a new stake in Cameco in the second quarter worth $29,000. Fifth Third Bancorp raised its holdings in shares of Cameco by 543.6% during the second quarter. Fifth Third Bancorp now owns 1,757 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 1,484 shares during the period. McIlrath & Eck LLC acquired a new stake in shares of Cameco during the first quarter worth $33,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Cameco during the second quarter worth $46,000. Finally, Captrust Financial Advisors raised its holdings in shares of Cameco by 114.2% during the first quarter. Captrust Financial Advisors now owns 2,622 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,398 shares during the period. Institutional investors own 60.11% of the company’s stock.

About Cameco (NYSE:CCJ)

Cameco Corp. engages in the provision of uranium. The company operates through the following segments: Uranium and Fuel Services. The Uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The Fuel Services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services.

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