Cameco (NYSE:CCJ) Shares Down 2.2% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were down 2.2% during trading on Tuesday . The company traded as low as $117.56 and last traded at $118.02. Approximately 3,469,260 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 4,964,065 shares. The stock had previously closed at $120.68.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CCJ shares. UBS Group started coverage on shares of Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price for the company. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $131.39.

Cameco Stock Down 2.2%

The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $51.39 billion, a P/E ratio of 137.23 and a beta of 0.99. The firm has a 50-day simple moving average of $104.36 and a two-hundred day simple moving average of $90.98.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Financial Consulate Inc. acquired a new stake in Cameco during the third quarter worth approximately $25,000. Nisa Investment Advisors LLC acquired a new position in Cameco in the 4th quarter valued at $25,000. Founders Capital Management bought a new stake in shares of Cameco during the 4th quarter valued at $27,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the 3rd quarter worth $28,000. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

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.