Cameco (NYSE:CCJ) Trading Down 9.2% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was down 9.2% on Wednesday . The stock traded as low as $110.19 and last traded at $114.50. Approximately 9,127,457 shares were traded during trading, an increase of 80% from the average daily volume of 5,065,270 shares. The stock had previously closed at $126.15.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada lowered their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. UBS Group assumed coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $124.82.

Cameco Stock Down 9.2%

The stock has a market cap of $49.86 billion, a P/E ratio of 133.14 and a beta of 0.99. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $102.28 and its 200 day moving average is $89.96.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The business had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of the business. Legacy Bridge LLC raised its stake in Cameco by 0.9% during 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 last quarter. S.A. Mason LLC increased its holdings in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares during the period. GAMMA Investing LLC increased its holdings in shares of Cameco by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 112 shares during the period. Midwest Trust Co raised its position in shares of Cameco by 4.8% during the fourth quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock valued at $231,000 after buying an additional 116 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Cameco by 3.1% in the third quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after buying an additional 120 shares during the period. 70.21% of the stock is owned by institutional investors.

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.