Cameco (NYSE:CCJ) Shares Down 4.7% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded down 4.7% on Wednesday . The company traded as low as $112.55 and last traded at $114.81. 3,836,970 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 3,765,808 shares. The stock had previously closed at $120.51.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Barclays initiated coverage on Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target for the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings cut Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Trading Down 9.2%

The firm has a market cap of $45.09 billion, a P/E ratio of 95.85, a PEG ratio of 1.94 and a beta of 0.99. The company has a 50 day moving average of $113.81 and a 200 day moving average of $108.50. 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 announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. Analysts predict that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in CCJ. Norges Bank bought a new stake in Cameco during the fourth quarter worth approximately $443,265,000. TD Asset Management Inc boosted its position in Cameco by 116.7% during the third 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 during the period. Marshall Wace LLP boosted its position in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the period. Van ECK Associates Corp boosted its position in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the period. Finally, Mizuho Markets Cayman LP bought a new stake in Cameco during the third quarter worth approximately $128,370,000. Institutional investors 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.