Cameco (NYSE:CCJ) Shares Down 4.1% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded down 4.1% during mid-day trading on Thursday . The company traded as low as $51.55 and last traded at $51.79. 1,573,311 shares traded hands during trading, a decline of 64% from the average session volume of 4,387,771 shares. The stock had previously closed at $53.98.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CCJ shares. Scotiabank lowered their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Glj Research reissued a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cameco has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Performance

The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $22.85 billion, a P/E ratio of 122.09 and a beta of 0.90. The stock has a fifty day simple moving average of $47.19 and a 200-day simple moving average of $48.05.

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

Institutional Investors Weigh In On Cameco

A number of hedge funds have recently modified their holdings of CCJ. Massachusetts Financial Services Co. MA acquired a new stake in shares of Cameco during the second quarter worth about $73,125,000. M&G PLC acquired a new stake in shares of Cameco during the third quarter worth about $66,227,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Cameco during the first quarter worth about $31,131,000. King Luther Capital Management Corp acquired a new stake in shares of Cameco during the second quarter worth about $32,740,000. Finally, Van ECK Associates Corp raised its position in Cameco by 48.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock valued at $75,691,000 after buying an additional 515,046 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.