Cameco (NYSE:CCJ) Trading Down 2.2% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded down 2.2% on Tuesday . The stock traded as low as $117.56 and last traded at $118.02. 3,469,260 shares traded hands during trading, a decline of 30% from the average session volume of 4,964,065 shares. The stock had previously closed at $120.68.

Analyst Upgrades and Downgrades

CCJ has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. Zacks Research upgraded shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $131.39.

Cameco Stock Down 2.2%

The company has a market capitalization of $51.39 billion, a price-to-earnings ratio of 137.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The firm’s fifty day moving average price is $104.36 and its 200-day moving average price is $90.98.

Institutional Trading of Cameco

Hedge funds have recently made changes to their positions in the company. Financial Consulate Inc. acquired a new position in shares of Cameco in the third quarter valued at approximately $25,000. Nisa Investment Advisors LLC acquired a new position in Cameco in the 4th quarter valued at approximately $25,000. Founders Capital Management bought a new position in shares of Cameco during the fourth quarter valued at $27,000. Strategic Advocates LLC acquired a new position in shares of Cameco during the third quarter worth $28,000. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

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.