Cameco (NYSE:CCJ) Trading Down 1.3% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was down 1.3% during trading on Thursday . The stock traded as low as $114.57 and last traded at $118.15. Approximately 3,588,157 shares were traded during trading, a decline of 22% from the average daily volume of 4,597,472 shares. The stock had previously closed at $119.72.

Analyst Ratings Changes

CCJ has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. UBS Group initiated coverage on Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target for the company. Royal Bank Of Canada boosted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Stock Up 0.2%

The business’s 50 day moving average price is $111.91 and its 200-day moving average price is $94.75. The firm has a market capitalization of $51.55 billion, a PE ratio of 122.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Groupama Asset Managment lifted its holdings in Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after buying an additional 108 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co purchased a new stake in shares of Cameco during the fourth quarter worth $330,000. Copos Capital S.a r.l. acquired a new stake in shares of Cameco in the fourth quarter valued at $35,000. Mcguire Capital Advisors Inc. purchased a new position in Cameco in the fourth quarter valued at $28,000. Finally, Corient Private Wealth LLC grew its stake in Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after purchasing an additional 897,558 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.