Cameco (NYSE:CCJ) Stock Price Down 4.1% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were down 4.1% on Thursday . The stock traded as low as $104.30 and last traded at $104.6020. Approximately 2,528,840 shares traded hands during trading, a decline of 41% from the average daily volume of 4,317,184 shares. The stock had previously closed at $109.02.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCJ. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research report on Thursday, February 5th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their price target on Cameco to $202.00 in a research note on Monday, March 9th. Finally, Glj Research reaffirmed a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Down 4.1%

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $45.56 billion, a PE ratio of 107.84 and a beta of 0.98. The firm’s fifty day moving average is $116.82 and its 200-day moving average is $99.52.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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. The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Bison Wealth LLC grew its stake in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC boosted its holdings in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new position in Cameco in the second quarter valued at about $14,252,000. Hedge funds and other institutional investors 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.