Cameco (NYSE:CCJ) Shares Down 3% – Should You Sell?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were down 3% during trading on Thursday . The stock traded as low as $102.17 and last traded at $103.4220. 2,964,738 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 3,719,216 shares. The stock had previously closed at $106.64.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CCJ shares. Canadian Imperial Bank of Commerce boosted their price target on shares of Cameco to $202.00 in a report on Monday, March 9th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. William Blair initiated coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

Cameco Price Performance

The firm has a market cap of $45.53 billion, a PE ratio of 96.80, a P/E/G ratio of 1.89 and a beta of 0.99. 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 business’s fifty day moving average is $111.50 and its 200-day moving average is $110.32.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Cameco Corporation will post 1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Legal & General Group Plc increased its stake in shares of Cameco by 4.6% in the third quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock worth $208,450,000 after purchasing an additional 108,841 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Cameco in the fourth quarter valued at approximately $1,974,000. Vanguard Group Inc. lifted its stake 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 buying an additional 258,193 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 buying an additional 85,762 shares in the last quarter. Finally, Spark Investment Management LLC bought a new position in Cameco in the 3rd quarter worth approximately $839,000. 70.21% of the stock is owned by 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.