Cameco (NYSE:CCJ) Shares Down 0.7% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.7% during trading on Thursday . The stock traded as low as $41.87 and last traded at $42.30. 511,620 shares traded hands during trading, a decline of 88% from the average session volume of 4,127,430 shares. The stock had previously closed at $42.60.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Glj Research increased their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday. They set a “buy” rating on the stock. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $73.64.

Cameco Trading Down 1.5 %

The stock has a market cap of $18.27 billion, a PE ratio of 150.30 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a 50 day moving average of $48.22 and a two-hundred day moving average of $49.96.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Sell-side analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Norges Bank acquired a new position in shares of Cameco during the 4th quarter worth about $188,595,000. FMR LLC increased its stake in Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after buying an additional 1,811,876 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock worth $115,398,000 after acquiring an additional 1,225,966 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock worth $518,443,000 after purchasing an additional 1,196,336 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.