Cameco (NYSE:CCJ) Shares Down 6.4% – Should You Sell?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) fell 6.4% on Friday . The stock traded as low as $105.00 and last traded at $107.9230. 6,549,323 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 4,495,583 shares. The stock had previously closed at $115.30.

Analyst Ratings Changes

CCJ has been the topic of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Canadian Imperial Bank of Commerce raised their price target on shares of Cameco to $202.00 in a report on Monday. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Sanford C. Bernstein reiterated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Finally, Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Performance

The firm has a market capitalization of $47.00 billion, a P/E ratio of 111.26 and a beta of 0.98. The stock has a fifty day simple moving average of $116.36 and a two-hundred day simple moving average of $97.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68.

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

Institutional Investors Weigh In On Cameco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Capital World Investors increased its position in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after buying an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after buying an additional 85,762 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in 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 buying an additional 2,071,373 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after acquiring an additional 849,188 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

About Cameco

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.