Cameco (NYSE:CCJ) Shares Down 1.9% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price dropped 1.9% on Monday . The company traded as low as $118.09 and last traded at $118.2830. Approximately 3,232,154 shares changed hands during trading, a decline of 17% from the average daily volume of 3,892,387 shares. The stock had previously closed at $120.60.

Analysts Set New Price Targets

CCJ has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce upped their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Royal Bank Of Canada upped their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, 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. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Down 1.9%

The stock has a market cap of $51.52 billion, a PE ratio of 121.94, a price-to-earnings-growth ratio of 2.05 and a beta of 1.04. The firm has a fifty day moving average of $114.95 and a 200 day moving average of $105.37. 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 posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.Cameco’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, equities research analysts anticipate that Cameco Corporation will post 1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Cameco by 1.5% in the fourth 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 during the last quarter. Capital World Investors increased its holdings in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after buying an additional 41,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cameco by 0.7% in the third 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 during the last quarter. Van ECK Associates Corp increased its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after buying an additional 849,188 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after buying 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.