Cameco (NYSE:CCJ) Stock Price Down 3.2% – Time to Sell?

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Barclays started coverage on Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price for the company. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Performance

The business has a fifty day simple moving average of $113.71 and a two-hundred day simple moving average of $108.81. 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 has a market cap of $44.47 billion, a PE ratio of 94.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping 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%.Cameco’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. Research analysts anticipate that Cameco Corporation will post 1.31 earnings per share for the current year.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors lifted its holdings in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Cameco by 15.6% during the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Cameco by 7.0% during the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after purchasing an additional 323,693 shares during the last quarter. 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.