Cameco (NYSE:CCJ) Trading Down 2.9% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price dropped 2.9% on Tuesday . The stock traded as low as $92.92 and last traded at $94.7190. 3,413,317 shares were traded during trading, a decline of 7% from the average session volume of 3,685,953 shares. The stock had previously closed at $97.50.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CCJ shares. Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a report on Monday, March 9th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Finally, TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.92.

Cameco Price Performance

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 has a market cap of $41.25 billion, a PE ratio of 87.70, a P/E/G ratio of 1.76 and a beta of 1.02. The company’s 50 day moving average is $108.73 and its 200-day moving average is $110.75.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period last year, the firm earned $0.16 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Cameco Corporation will post 1.21 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of CCJ. Bison Wealth LLC increased its stake in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC boosted its stake in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cameco by 11.9% in the 1st 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 purchasing an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new stake in shares of Cameco in the 2nd quarter valued at about $14,252,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.