Cameco (NYSE:CCJ) Shares Down 2.8% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) fell 2.8% during trading on Tuesday . The stock traded as low as $112.35 and last traded at $116.7990. 3,796,809 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 3,872,633 shares. The stock had previously closed at $120.14.

Wall Street Analyst Weigh In

Several research firms recently commented on CCJ. Weiss Ratings lowered shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Glj Research reaffirmed a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, William Blair began coverage on shares of Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Price 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 company’s 50-day simple moving average is $114.51 and its 200-day simple moving average is $107.07. The company has a market cap of $48.95 billion, a price-to-earnings ratio of 104.08, a P/E/G ratio of 1.95 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter last year, the company earned $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Trading of Cameco

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco during the fourth quarter worth approximately $25,000. Founders Capital Management acquired a new stake in shares of Cameco during the fourth quarter worth approximately $27,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the third quarter worth approximately $28,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco during the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after buying an additional 307 shares in the last quarter. Institutional investors and hedge funds 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.