Cameco (NYSE:CCJ) Stock Price Down 6.1% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) fell 6.1% during mid-day trading on Monday . The stock traded as low as $89.22 and last traded at $90.1190. 6,077,998 shares were traded during trading, an increase of 65% from the average session volume of 3,676,364 shares. The stock had previously closed at $95.99.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Barclays assumed coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Bank of America dropped their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Scotiabank reissued an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average target price of $146.52.

Cameco Stock Performance

The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $105.73 and a 200 day moving average price of $110.91. The firm has a market capitalization of $39.93 billion, a PE ratio of 84.89, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same period last year, the business posted $0.16 EPS. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts expect that Cameco Corporation will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC acquired a new stake in shares of Cameco in the 1st quarter valued at $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the 4th quarter valued at about $25,000. Brown Lisle Cummings Inc. lifted its stake in Cameco by 3,200.0% during the first 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 acquired a new position in Cameco in the fourth quarter valued at approximately $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Cameco during the fourth quarter worth approximately $28,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.