Cameco (NYSE:CCJ) Stock Price Down 1.3% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) dropped 1.3% on Thursday . The stock traded as low as $114.57 and last traded at $118.15. Approximately 3,588,157 shares changed hands during trading, a decline of 22% from the average daily volume of 4,597,472 shares. The stock had previously closed at $119.72.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Glj Research reissued a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their target price on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Stock Down 1.3%

The business’s fifty day simple moving average is $110.73 and its 200 day simple moving average is $94.30. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 121.80 and a beta of 0.99. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

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

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Bison Wealth LLC lifted its stake in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in Cameco by 16.6% in 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 in the last quarter. Integrated Wealth Concepts LLC lifted its position in Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 period. Finally, Oppenheimer Asset Management Inc. bought a new position in Cameco during the 2nd quarter worth about $267,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.