Cameco (NYSE:CCJ) Stock Price Down 0.7% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price dropped 0.7% on Tuesday . The stock traded as low as $54.64 and last traded at $54.78. Approximately 807,413 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,403,641 shares. The stock had previously closed at $55.17.

Analyst Ratings Changes

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

Cameco Stock Down 3.3 %

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’s 50-day moving average price is $46.76 and its 200 day moving average price is $47.99. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 120.44 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its 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). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same quarter last year, the company posted ($0.01) EPS. Cameco’s quarterly revenue was up 24.1% compared to the same quarter last year. Sell-side analysts expect that Cameco Co. will post 0.83 EPS for the current year.

Institutional Trading of Cameco

A number of large investors have recently made changes to their positions in CCJ. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. LRI Investments LLC acquired a new stake in Cameco during the first quarter worth approximately $26,000. JFS Wealth Advisors LLC grew its stake in Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 550 shares during the period. Larson Financial Group LLC raised its holdings in Cameco by 99.3% in the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Cameco by 68.8% during the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 642 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

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.