Cameco (NYSE:CCJ) Stock Price Down 3.1% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares dropped 3.1% during trading on Wednesday . The stock traded as low as $49.84 and last traded at $49.96. Approximately 1,070,167 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,356,219 shares. The stock had previously closed at $51.58.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent analyst reports. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank dropped their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The firm has a 50-day simple moving average of $42.32 and a two-hundred day simple moving average of $47.19. The company has a market cap of $21.70 billion, a PE ratio of 117.42 and a beta of 0.90.

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

Institutional Investors Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Murphy Pohlad Asset Management LLC lifted its stake in shares of Cameco by 0.3% during the first quarter. Murphy Pohlad Asset Management LLC now owns 75,720 shares of the basic materials company’s stock worth $3,280,000 after purchasing an additional 200 shares in the last quarter. Silvia Mccoll Wealth Management LLC lifted its stake in shares of Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 210 shares in the last quarter. LRI Investments LLC lifted its stake in shares of Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 234 shares in the last quarter. S.A. Mason LLC increased its position in shares of Cameco by 8.1% during the second quarter. S.A. Mason LLC now owns 3,449 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 258 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Cameco by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 17,598 shares of the basic materials company’s stock worth $867,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Cameco

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.