Cameco (NYSE:CCJ) Shares Down 2.3% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded down 2.3% on Monday . The stock traded as low as $103.43 and last traded at $105.0420. 3,258,129 shares traded hands during trading, a decline of 15% from the average session volume of 3,845,778 shares. The stock had previously closed at $107.51.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Royal Bank Of Canada raised their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Cameco has an average rating of “Moderate Buy” and an average target price of $153.13.

Cameco Stock Performance

The company has a market cap of $45.30 billion, a PE ratio of 96.30, a PEG ratio of 1.77 and a beta of 1.04. The business’s 50-day moving average is $113.95 and its 200 day moving average is $107.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. On average, equities research analysts predict that Cameco Corporation will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC increased its position in shares of Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after acquiring an additional 85 shares during the period. Legacy Bridge LLC increased its position in shares of Cameco by 0.9% in the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC increased its position in shares of Cameco by 3.1% in the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after acquiring an additional 107 shares during the period. Groupama Asset Managment increased its position in shares of Cameco by 5.9% in the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after acquiring an additional 108 shares during the period. Finally, S.A. Mason LLC increased its position in shares of Cameco by 4.8% in the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 111 shares during the period. Hedge funds and other 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.