Cameco (NYSE:CCJ) Stock Price Down 0.7% – Should You Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price dropped 0.7% during mid-day trading on Tuesday . The company traded as low as $54.64 and last traded at $54.78. Approximately 807,413 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,403,641 shares. The stock had previously closed at $55.17.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCJ. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research restated a “buy” rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank reduced their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cameco has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

The stock’s 50 day simple moving average is $46.76 and its 200-day simple moving average is $47.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 120.44 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. Equities research analysts anticipate that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Cameco by 2.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after buying an additional 288,400 shares in the last quarter. Capital World Investors boosted its stake in Cameco by 1.6% during the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after buying an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cameco by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after buying an additional 202,157 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.