Cameco (NYSE:CCJ) Trading Down 0.4% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) was down 0.4% on Thursday . The stock traded as low as $53.81 and last traded at $53.89. Approximately 1,693,262 shares traded hands during trading, a decline of 62% from the average daily volume of 4,410,229 shares. The stock had previously closed at $54.08.

Analyst Ratings Changes

CCJ has been the subject of a number of recent research reports. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank lowered 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. Glj Research reiterated a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $45.96 and its two-hundred day simple moving average is $47.89. The firm has a market cap of $23.41 billion, a price-to-earnings ratio of 137.92 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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). The firm 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 quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. As a group, research analysts expect that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Cameco by 10.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,655,676 shares of the basic materials company’s stock valued at $71,722,000 after buying an additional 160,113 shares during the period. Wealthstar Advisors LLC increased its stake in shares of Cameco by 21.2% in the 1st quarter. Wealthstar Advisors LLC now owns 8,656 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 1,516 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Cameco by 43.7% during the 1st quarter. Principal Financial Group Inc. now owns 22,700 shares of the basic materials company’s stock valued at $984,000 after acquiring an additional 6,900 shares during the period. Fortis Group Advisors LLC bought a new position in Cameco during the first quarter worth $480,000. Finally, Van ECK Associates Corp grew its holdings in Cameco by 26.2% in the first quarter. Van ECK Associates Corp now owns 789,714 shares of the basic materials company’s stock worth $34,207,000 after purchasing an additional 164,095 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

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.