Cameco (NYSE:CCJ) Shares Down 1.7% – Should You Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) was down 1.7% during mid-day trading on Tuesday . The stock traded as low as $42.38 and last traded at $42.62. Approximately 555,534 shares traded hands during trading, a decline of 86% from the average daily volume of 4,081,826 shares. The stock had previously closed at $43.33.

Analyst Ratings Changes

Several analysts have issued reports on CCJ shares. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday. Glj Research increased their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Price Performance

The company has a market cap of $19.23 billion, a PE ratio of 157.74 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a 50 day moving average of $47.26 and a 200-day moving average of $50.02.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Equities analysts predict that Cameco Co. will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in Cameco in the 4th quarter worth $25,000. Hurley Capital LLC purchased a new position in shares of Cameco during the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Cameco during the 4th quarter valued at about $28,000. Pingora Partners LLC purchased a new position in shares of Cameco during the 3rd quarter valued at about $33,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Cameco during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors 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.