Cameco (NYSE:CCJ) Trading Down 2.3% – Time to Sell?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) dropped 2.3% on Monday . The company traded as low as $103.43 and last traded at $105.0420. Approximately 3,258,129 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 3,845,778 shares. The stock had previously closed at $107.51.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCJ. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Royal Bank Of Canada lifted 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. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Cameco to $202.00 in a report on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.13.

Cameco Stock Down 2.3%

The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $45.75 billion, a P/E ratio of 97.26, a PEG ratio of 1.81 and a beta of 1.04. The stock has a 50 day moving average price of $114.26 and a 200 day moving average price of $107.22.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. On average, research analysts anticipate that Cameco Corporation will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bison Wealth LLC lifted its holdings in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC raised its position in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund bought a new stake in shares of Cameco in the 2nd quarter valued at about $14,252,000. 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.