Cameco (NYSE:CCJ) Stock Price Down 6.1% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded down 6.1% during trading on Monday . The stock traded as low as $89.22 and last traded at $90.1190. 6,077,998 shares were traded during trading, an increase of 65% from the average session volume of 3,676,364 shares. The stock had previously closed at $95.99.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. Bank of America decreased their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price target on shares of Cameco in a research report on Monday, June 15th. William Blair started coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Finally, TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.11.

Cameco Trading Down 6.1%

The stock has a market cap of $39.25 billion, a price-to-earnings ratio of 83.44, a PEG ratio of 1.69 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $106.85 and its 200 day simple moving average is $110.94.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, research analysts expect that Cameco Corporation will post 1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC bought a new stake in Cameco in the fourth quarter valued at approximately $25,000. Founders Capital Management acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $27,000. Strategic Advocates LLC bought a new position in shares of Cameco during the 3rd quarter worth approximately $28,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco during the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 acquiring an additional 307 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

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.