Cameco (NYSE:CCJ) Shares Down 1.9% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was down 1.9% during mid-day trading on Monday . The stock traded as low as $109.33 and last traded at $110.4840. Approximately 1,693,351 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 4,175,455 shares. The stock had previously closed at $112.57.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCJ. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. Glj Research reissued a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Cameco Trading Up 5.2%

The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $114.83 and its two-hundred day simple moving average is $101.39. The company has a market capitalization of $50.51 billion, a PE ratio of 119.55 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same quarter last year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Several large investors have recently modified their holdings of CCJ. Norges Bank bought a new position in shares of Cameco during the fourth quarter worth about $443,265,000. TD Asset Management Inc lifted its position in shares of Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. Institutional investors 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.