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Should Cameco Corporation (NYSE: CCJ) Revive After A -36.06% Drop From Highs?

During the recent session, Cameco Corporation (NYSE:CCJ)’s traded shares were 0.96 million, with the beta value of the company hitting 0.96. At the last…

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This article was originally published by The Marketing Sentinal

During the recent session, Cameco Corporation (NYSE:CCJ)’s traded shares were 0.96 million, with the beta value of the company hitting 0.96. At the last check today, the stock’s price was $23.88, reflecting an intraday loss of -2.11% or -$0.51. The 52-week high for the CCJ share is $32.49, that puts it down -36.06 from that peak though still a striking 16.21% gain since the share price plummeted to a 52-week low of $20.01. The company’s market capitalization is $10.42B, and the average intraday trading volume over the past 10 days was 4.5 million shares, and the average trade volume was 4.58 million shares over the past three months.

Cameco Corporation (NYSE:CCJ) trade information

Cameco Corporation (CCJ) registered a -2.11% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.11% in intraday trading to $23.88 this Thursday, 03/23/23, hitting a weekly high. The stock’s 5-day price performance is -4.27%, and it has moved by -11.87% in 30 days. Based on these gigs, the overall price performance for the year is -17.79%. The short interest in Cameco Corporation (NYSE:CCJ) is 13.92 million shares and it means that shorts have 3.05 day(s) to cover.

Cameco Corporation (CCJ) estimates and forecasts

Statistics show that Cameco Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Cameco Corporation (CCJ) shares have gone down -11.61% during the last six months, with a year-to-date growth rate more than the industry average at 284.00% against 15.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 366.70% this quarter and then jump 15.40% in the quarter after that. In the rating firms’ projections, revenue will increase 21.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $365.05 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $374.48 million by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $298.54 million and $418.51 million respectively. In this case, analysts expect current quarter sales to grow by 22.30% and then drop by -10.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.10%. While earnings are projected to return 185.10% in 2023.

CCJ Dividends

Cameco Corporation is due to release its next quarterly earnings between May 03 and May 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Cameco Corporation is 0.09, with the dividend yield indicating at 0.36 percent, continuing the trend of increasing dividends in recent years.

Cameco Corporation (NYSE:CCJ)’s Major holders

Cameco Corporation insiders own 0.44% of total outstanding shares while institutional holders control 63.93%, with the float percentage being 64.22%. Mirae Asset Global Investments Co., Ltd. is the largest shareholder of the company, while 753 institutions own stock in it. As of Sep 29, 2022, the company held over 14.57 million shares (or 3.37% of all shares), a total value of $386.27 million in shares.

The next largest institutional holding, with 13.47 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 3.11% of outstanding shares. At the market price on Sep 29, 2022, these shares were valued at $357.1 million.

Also, the Mutual Funds coming in first place with the largest holdings of Cameco Corporation (CCJ) shares are Global X Fds-Global X Uranium ETF and Capital World Growth and Income Fund. Data provided on Dec 30, 2022 indicates that Global X Fds-Global X Uranium ETF owns about 13.94 million shares. This amounts to just over 3.22 percent of the company’s overall shares, with a $316.06 million market value. The same data shows that the other fund manager holds slightly less at 11.45 million, or about 2.65% of the stock, which is worth about $259.48 million.

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