Cameco (NYSE:CCJ) Shares Down 1.8% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares dropped 1.8% on Thursday . The company traded as low as $49.06 and last traded at $49.44. Approximately 758,464 shares changed hands during trading, a decline of 84% from the average daily volume of 4,667,173 shares. The stock had previously closed at $50.35.

Cameco Price Performance

The company has a 50-day moving average of $52.88 and a 200-day moving average of $49.36. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 263.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. As a group, equities research analysts expect that Cameco Co. will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its position in shares of Cameco by 2.1% in the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after buying an additional 191 shares during the last quarter. S.A. Mason LLC raised its holdings in Cameco by 6.0% in the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 206 shares during the last quarter. EdgeRock Capital LLC lifted its stake in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 224 shares during the period. Larson Financial Group LLC grew its position in shares of Cameco by 37.4% in the fourth quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 226 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 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.