Cameco (NYSE:CCJ) Stock Price Down 2.7% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 2.7% on Thursday . The stock traded as low as $101.82 and last traded at $106.4820. 3,889,370 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 4,396,171 shares. The stock had previously closed at $109.40.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCJ. Royal Bank Of Canada upped their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Finally, Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Stock Down 4.5%

The firm has a 50 day simple moving average of $116.95 and a two-hundred day simple moving average of $98.70. The stock has a market capitalization of $44.34 billion, a P/E ratio of 104.95 and a beta of 0.98. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $443,265,000. TD Asset Management Inc increased its position in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Marshall Wace LLP lifted its stake in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after buying an additional 1,644,061 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.