Cameco Corporation [NYSE: CCJ] traded at a low on 04/20/23, posting a 0.00 loss after which it closed the day’ session at $25.56. The company report on April 20, 2023 at 1:00 PM that Cameco Signs Nuclear Fuel Agreement to Support Bulgaria’s Diversification Efforts.
Cameco (TSX: CCO; NYSE: CCJ) has signed a 10-year supply contract to provide sufficient volumes of natural uranium hexafluoride, or UF6 (consisting of uranium and conversion services), to meet the full requirements of the Kozloduy 5 Reactor at the Kozloduy Nuclear Power Plant, the only nuclear generating station in the Republic of Bulgaria.
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“This is Cameco’s first agreement to supply fuel for Bulgaria’s nuclear energy sector,” said Cameco’s president and CEO Tim Gitzel. “We are very pleased to add another market to Cameco’s global commercial portfolio and to expand our contributions to countries like Bulgaria that are seeking to enhance their energy security while affirming their commitment to carbon-free nuclear power in achieving their climate goals.”.
The results of the trading session contributed to over 3535516 shares changing hands. Over the past one week, the price volatility of Cameco Corporation stands at 2.21% while the volatility over the past one month is 2.65%.
The market cap for CCJ stock reached $11.06 billion, with 432.72 million shares outstanding and 431.70 million shares in the current float. Compared to the average trading volume of 4.34M shares, CCJ reached a trading volume of 3535516 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cameco Corporation [CCJ]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCJ shares is $36.03 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCJ stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Cameco Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. The new note on the price target was released on March 31, 2022, representing the official price target for Cameco Corporation stock. Previously, the target price had yet another raise to $32, while BofA Securities analysts kept a Buy rating on CCJ stock.
The Average True Range (ATR) for Cameco Corporation is set at 0.73, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 7.90. The Price to Book ratio for the last quarter was 2.49, with the Price to Cash per share for the same quarter was set at 3.95. Price to Free Cash Flow for CCJ in the course of the last twelve months was 91.59 with Quick ratio for the last quarter at 4.70.
How has CCJ stock performed recently?
Cameco Corporation [CCJ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.15. With this latest performance, CCJ shares gained by 0.63% in over the last four-week period, additionally plugging by 9.84% over the last 6 months – not to mention a drop of -15.42% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCJ stock in for the last two-week period is set at 47.79, with the RSI for the last a single of trading hit 47.24, and the three-weeks RSI is set at 48.06 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 26.39, while it was recorded at 25.87 for the last single week of trading, and 25.24 for the last 200 days.
Cameco Corporation [CCJ]: Deeper insight into the fundamentals
Cameco Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 5.90.
Insider trade positions for Cameco Corporation [CCJ]
There are presently around $7,035 million, or 70.10% of CCJ stock, in the hands of institutional investors. The top three institutional holders of CCJ stocks are: VANGUARD GROUP INC with ownership of 14,950,464, which is approximately 10.987% of the company’s market cap and around 0.20% of the total institutional ownership; FMR LLC, holding 14,780,767 shares of the stock with an approximate value of $377.8 million in CCJ stocks shares; and CAPITAL WORLD INVESTORS, currently with $365.01 million in CCJ stock with ownership of nearly 23.697% of the company’s market capitalization.
245 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 56,268,479 shares. Additionally, 209 investors decreased positions by around 21,440,084 shares, while 76 investors held positions by with 197,510,446 shares. The mentioned changes placed institutional holdings at 275,219,009 shares, according to the latest SEC report filing. CCJ stock had 70 new institutional investments in for a total of 13,990,174 shares, while 88 institutional investors sold positions of 6,258,819 shares during the same period.