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Should This Give Cameco Corporation (NYSE: CCJ) Investors Sleepless Nights?

The trading price of Cameco Corporation (NYSE:CCJ) closed higher on Tuesday, May 23, closing at $28.32, 1.32% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $27.52 and $28.57. The company’s P/E ratio in the trailing 12-month period was 96.00, while its 5Y monthly beta was 0.95. In examining the 52-week price action we see that the stock hit a 52-week high of $31.29 and a 52-week low of $20.34. Over the past month, the stock has gained 10.93% in value.

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Cameco Corporation, whose market valuation is $12.43 billion at the time of this writing, is expected to release its quarterly earnings report Jul 25, 2023 – Jul 31, 2023. The dividend yield on the company stock is 0.31%, while its Forward Dividend ratio is 0.09. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.11 per share this quarter, however they have predicted annual earnings per share of $0.76 for 2023 and $1.19 for 2024. It means analysts are expecting annual earnings per share growth of 216.70% this year and 56.60% next year.

Analysts have forecast the company to bring in revenue of $355.01 million for the current quarter, with the likely lows of $355.01 million and highs of $355.01 million. The average estimate suggests sales will likely down by -15.20% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $1.88 billion. The company’s revenue is forecast to grow by 35.60% over what it did in 2023.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cameco Corporation No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CCJ has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that CCJ’s price is currently 3.70% off the SMA20 and 8.33% off the SMA50. The RSI metric on the 14-day chart is currently showing 61.72, and weekly volatility stands at 3.39%. When measured over the past 30 days, the indicator reaches 3.31%. Cameco Corporation (NYSE:CCJ)’s beta value is currently sitting at 0.95, while the Average True Range indicator is currently displaying 0.86.

To see how Cameco Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: CCJ stock’s performance was 1.32% in the latest trading, and 20.72% in the past year, while BHP Group Limited (BHP) has traded -1.50% on the day and positioned -3.82% lower than it was a year ago. Another comparable company Denison Mines Corp. (DNN) saw its stock close -3.51% lower in the most recent trading session but was down -2.65% in a year. Cameco Corporation has a P/E ratio of 96.00, compared to BHP Group Limited’s 8.03 and Denison Mines Corp.’s 0. Also in last trading session, the S&P 500 Index has plunged -1.12%, while the Dow Jones Industrial also saw a negative session, down -0.69% on the day.

An evaluation of the daily trading volume of Cameco Corporation (NYSE:CCJ) indicates that the 3-month average is 3.76 million. However, this figure has increased over the past 10 days to an average of 3.24 million.

Currently, records show that 432.85 million of the company’s shares remain outstanding. The insiders hold 0.20% of outstanding shares, whereas institutions hold 70.10%. The stats also highlight that short interest as of Apr 27, 2023, stood at 15.72 million shares, resulting in a short ratio of 4.6 at that time. From this, we can conclude that short interest is 3.63% of the company’s total outstanding shares. However, since the stock’s price has seen 24.92% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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