Cameco (NYSE:CCJ) Shares Down 4.4% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price fell 4.4% on Friday . The stock traded as low as $107.25 and last traded at $107.5780. 3,067,312 shares were traded during trading, a decline of 20% from the average session volume of 3,851,968 shares. The stock had previously closed at $112.51.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. William Blair began coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Scotiabank reissued an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a research report on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Price Performance

The stock has a fifty day moving average of $114.51 and a 200-day moving average of $107.07. The firm has a market capitalization of $46.85 billion, a P/E ratio of 99.61, a PEG ratio of 1.95 and a beta of 1.04. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

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

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC raised its position in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the last quarter. Legacy Bridge LLC boosted its position in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after buying an additional 100 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after buying an additional 107 shares during the period. Groupama Asset Managment increased its stake in shares of Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after buying an additional 108 shares during the period. Finally, S.A. Mason LLC raised its position in shares of Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds 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.