Cameco (NYSE:CCJ) Shares Down 4.4% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price fell 4.4% during trading on Friday . The company traded as low as $107.25 and last traded at $107.5780. 3,067,312 shares traded hands during trading, a decline of 20% from the average session volume of 3,851,968 shares. The stock had previously closed at $112.51.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCJ. Glj Research reiterated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Weiss Ratings downgraded Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and an average price target of $153.13.

Cameco Price Performance

The stock has a fifty day moving average price of $114.51 and a 200-day moving average price of $107.07. The company has a market cap of $46.85 billion, a PE ratio of 99.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

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. The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, equities analysts expect that Cameco Corporation will post 1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cameco by 79.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after purchasing an additional 110,629 shares during the period. NWF Advisory Services Inc. bought a new position in Cameco in the 3rd quarter worth approximately $1,996,000. Thames Capital Management LLC increased its position in Cameco by 66.8% in the 3rd quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock worth $8,978,000 after buying an additional 42,879 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Cameco by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,755,802 shares of the basic materials company’s stock valued at $231,102,000 after purchasing an additional 202,279 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its holdings in Cameco by 165.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock valued at $2,894,000 after purchasing an additional 21,361 shares during the period. 70.21% of the stock is owned by hedge funds and other 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.