Cameco (NYSE:CCJ) Shares Down 1.1% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded down 1.1% during mid-day trading on Thursday . The company traded as low as $94.79 and last traded at $96.3580. 3,752,319 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 3,697,896 shares. The stock had previously closed at $97.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Scotiabank restated an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Barclays assumed coverage on shares of Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada lifted their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.92.

Cameco Price 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 business has a 50-day moving average price of $110.26 and a two-hundred day moving average price of $110.60. The company has a market capitalization of $41.97 billion, a price-to-earnings ratio of 89.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (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 the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS. As a group, research analysts anticipate that Cameco Corporation will post 1.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SWP Investment Management LLC lifted its position in Cameco by 56.8% in the 2nd quarter. SWP Investment Management LLC now owns 20,000 shares of the basic materials company’s stock valued at $2,037,000 after acquiring an additional 7,245 shares in the last quarter. Confluence Investment Management LLC increased its holdings in Cameco by 42.5% during the 2nd quarter. Confluence Investment Management LLC now owns 12,856 shares of the basic materials company’s stock worth $1,310,000 after purchasing an additional 3,834 shares in the last quarter. PVG Asset Management Corp increased its holdings in Cameco by 404.8% during the 1st quarter. PVG Asset Management Corp now owns 11,818 shares of the basic materials company’s stock worth $1,265,000 after purchasing an additional 9,477 shares in the last quarter. Rathbones Group PLC raised its stake in shares of Cameco by 5.3% in the first quarter. Rathbones Group PLC now owns 589,998 shares of the basic materials company’s stock worth $63,967,000 after purchasing an additional 29,748 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Cameco by 2.7% in the first quarter. Parallel Advisors LLC now owns 10,202 shares of the basic materials company’s stock worth $1,108,000 after purchasing an additional 270 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.