Cameco (NYSE:CCJ) Stock Price Down 3% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded down 3% during mid-day trading on Thursday . The company traded as low as $102.17 and last traded at $103.4220. Approximately 2,964,738 shares changed hands during trading, a decline of 20% from the average session volume of 3,719,216 shares. The stock had previously closed at $106.64.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Cameco to $202.00 in a report on Monday, March 9th. Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Barclays began coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average price target of $147.42.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The firm has a market cap of $45.04 billion, a price-to-earnings ratio of 95.76, a P/E/G ratio of 1.99 and a beta of 0.99. The business’s 50-day moving average price is $112.05 and its two-hundred day moving average price is $110.27.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, research analysts forecast that Cameco Corporation will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Cameco in the fourth quarter valued at about $443,265,000. TD Asset Management Inc lifted its holdings in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares during the last quarter. Marshall Wace LLP grew its position in shares of Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. Finally, Mizuho Markets Cayman LP bought a new stake in shares of Cameco in the 3rd quarter valued at approximately $128,370,000. 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.