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

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) fell 4.4% on Friday . The company traded as low as $107.25 and last traded at $107.5780. 3,067,312 shares traded hands 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

A number of research firms recently weighed in on CCJ. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Glj Research reissued a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Scotiabank reissued an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, William Blair began coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.13.

Cameco Price Performance

The company has a 50 day moving average of $114.26 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 P/E/G ratio of 1.81 and a beta of 1.04. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. On average, sell-side analysts predict that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new stake in shares of Cameco during the 4th quarter worth $25,000. Founders Capital Management bought a new stake in shares of Cameco during the 4th quarter worth $27,000. Strategic Advocates LLC bought a new stake in shares of Cameco during the 3rd quarter worth $28,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Cameco during the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after buying an additional 307 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

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.