Cameco (NYSE:CCJ) Trading Down 5.7% – Time to Sell?
by Scott Moore · The Cerbat GemCameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s stock price traded down 5.7% on Tuesday . The stock traded as low as $116.45 and last traded at $116.5420. 3,729,702 shares were traded during mid-day trading, a decline of 7% from the average session volume of 4,006,551 shares. The stock had previously closed at $123.62.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. William Blair initiated coverage on shares of Cameco in a report on Monday. They issued an “outperform” rating on the stock. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a report on Monday, March 9th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.40.
View Our Latest Analysis on Cameco
Cameco Stock Performance
The firm’s 50 day moving average is $114.47 and its two-hundred day moving average is $104.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a market capitalization of $53.87 billion, a PE ratio of 127.51 and a beta of 1.02.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts predict that Cameco Corporation will post 1.48 earnings per share for the current year.
Institutional Investors Weigh In On Cameco
Large investors have recently modified their holdings of the company. Sterling Capital Management LLC purchased a new stake in shares of Cameco in the 1st quarter valued at approximately $30,000. Nisa Investment Advisors LLC purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $25,000. Brown Lisle Cummings Inc. grew its position in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of Cameco in the 3rd quarter valued at $25,000. Finally, Founders Capital Management purchased a new position in shares of Cameco in the 4th quarter valued at $27,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
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.