Cameco (NYSE:CCJ) Stock Price Down 3.2% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price dropped 3.2% during mid-day trading on Tuesday . The company traded as low as $98.57 and last traded at $102.1040. Approximately 4,224,778 shares traded hands during trading, an increase of 13% from the average daily volume of 3,742,536 shares. The stock had previously closed at $105.44.

Analysts Set New Price Targets

CCJ has been the topic of a number of analyst reports. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Barclays initiated coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada increased their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a 50-day simple moving average of $113.33 and a 200-day simple moving average of $109.15. The stock has a market cap of $43.11 billion, a P/E ratio of 91.64, a PEG ratio of 1.73 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts forecast that Cameco Corporation will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC grew its stake in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after purchasing an additional 85 shares during the period. Legacy Bridge LLC grew its stake in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC grew its stake in Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 107 shares during the period. Groupama Asset Managment grew its stake in Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after purchasing an additional 108 shares during the period. Finally, S.A. Mason LLC grew its stake in Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 111 shares during the period. 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.