Cameco (NYSE:CCJ) Stock Price Down 1.3% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares fell 1.3% on Thursday . The stock traded as low as $114.57 and last traded at $118.15. 3,588,157 shares were traded during trading, a decline of 22% from the average session volume of 4,597,472 shares. The stock had previously closed at $119.72.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CCJ. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. Glj Research reaffirmed a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. National Bank Financial reiterated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Royal Bank Of Canada upped their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cameco currently has an average rating of “Moderate Buy” and an average target price of $143.03.

Cameco Price Performance

The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 121.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The stock’s 50 day simple moving average is $110.73 and its two-hundred day simple moving average is $94.30.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Cameco during the fourth quarter worth $443,265,000. TD Asset Management Inc grew its holdings in shares of Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after purchasing an additional 2,071,373 shares in the last quarter. Marshall Wace LLP lifted its holdings in Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after buying an additional 1,644,061 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.