Cameco (NYSE:CCJ) Trading Down 2.3% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded down 2.3% during trading on Monday . The company traded as low as $103.43 and last traded at $105.0420. 3,258,129 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 3,845,778 shares. The stock had previously closed at $107.51.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce increased their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. Weiss Ratings downgraded shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada upped their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Stock Down 2.3%

The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $114.26 and its 200-day moving average price is $107.22. The company has a market cap of $45.75 billion, a P/E ratio of 97.26, a PEG ratio of 1.81 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, research analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC bought a new stake in shares of Cameco during the fourth quarter worth about $25,000. Founders Capital Management bought a new position in Cameco in the 4th quarter valued at about $27,000. Strategic Advocates LLC acquired a new position in Cameco during the 3rd quarter valued at about $28,000. Mcguire Capital Advisors Inc. bought a new stake in Cameco during the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in 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 purchasing an additional 307 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.