Cameco (TSE:CCO) Shares Down 3.2% – Here’s What Happened

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares dropped 3.2% on Friday . The stock traded as low as C$67.16 and last traded at C$67.45. Approximately 146,345 shares traded hands during trading, a decline of 88% from the average daily volume of 1,207,482 shares. The stock had previously closed at C$69.65.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCO. BMO Capital Markets raised their price objective on shares of Cameco from C$78.00 to C$84.00 in a research report on Friday, November 8th. National Bankshares raised their price objective on shares of Cameco from C$85.00 to C$87.00 in a research report on Friday, November 8th. Eight Capital raised their price objective on shares of Cameco from C$80.00 to C$90.00 in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective on shares of Cameco from C$75.00 to C$90.00 in a research report on Thursday, November 21st. Finally, Raymond James raised their price objective on shares of Cameco from C$81.00 to C$88.00 in a research report on Friday, November 22nd. Five analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$84.30.

Cameco Stock Performance

The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. The company has a market capitalization of C$29.60 billion, a PE ratio of 254.13, a PEG ratio of 2.22 and a beta of 0.90. The stock’s fifty day simple moving average is C$74.71 and its 200-day simple moving average is C$69.00.

Insider Transactions at Cameco

In other news, Senior Officer Sean Anthony Quinn sold 13,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$83.63, for a total transaction of C$1,120,642.00. Also, Senior Officer Tim Scott Gitzel sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of C$85.66, for a total transaction of C$4,283,000.00. Insiders sold a total of 78,962 shares of company stock valued at $6,650,076 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

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.