Cameco (NYSE:CCJ) Stock Price Down 7.2% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were down 7.2% on Wednesday . The company traded as low as $93.83 and last traded at $94.9390. Approximately 6,915,513 shares changed hands during trading, an increase of 83% from the average daily volume of 3,773,537 shares. The stock had previously closed at $102.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCJ shares. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Canadian Imperial Bank of Commerce lifted their price target on shares of Cameco to $202.00 in a research note on Monday, March 9th. Barclays started coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $148.62.

Cameco Trading Up 2.0%

The company’s 50-day moving average is $113.33 and its 200-day moving average is $109.15. The firm has a market cap of $43.96 billion, a price-to-earnings ratio of 93.47, a P/E/G ratio of 1.61 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, research analysts predict that Cameco Corporation will post 1.31 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. Sterling Capital Management LLC bought a new stake in Cameco during the 1st quarter worth about $30,000. Nisa Investment Advisors LLC bought a new stake in Cameco during the 4th quarter worth about $25,000. Brown Lisle Cummings Inc. raised its holdings in Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Founders Capital Management bought a new stake in Cameco during the 4th quarter worth about $27,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Cameco during the 4th quarter worth about $28,000. 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.