Cameco (NYSE:CCJ) Stock Price Down 5.7% – Should You Sell?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were down 5.7% on Tuesday . The stock traded as low as $116.45 and last traded at $116.5420. Approximately 3,729,702 shares were traded during trading, a decline of 7% from the average daily volume of 4,006,551 shares. The stock had previously closed at $123.62.

Analyst Ratings Changes

Several equities analysts have commented on CCJ shares. Royal Bank Of Canada increased their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.40.

Cameco Trading Down 5.7%

The business has a 50-day moving average of $114.20 and a 200-day moving average of $103.51. The stock has a market capitalization of $50.76 billion, a price-to-earnings ratio of 120.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that Cameco Corporation will post 1.57 EPS for the current year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Abbington Investment Group purchased a new position in shares of Cameco in the 3rd quarter valued at approximately $6,506,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cameco by 79.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock worth $20,964,000 after purchasing an additional 110,629 shares during the last quarter. NWF Advisory Services Inc. purchased a new stake in shares of Cameco during the third quarter worth approximately $1,996,000. Thames Capital Management LLC lifted its holdings in shares of Cameco by 66.8% during the third quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock worth $8,978,000 after purchasing an additional 42,879 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Cameco by 7.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,755,802 shares of the basic materials company’s stock worth $231,102,000 after purchasing an additional 202,279 shares during the period. Hedge funds and other 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.