Cameco (NYSE:CCJ) Shares Down 0.1% – Should You Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) traded down 0.1% during trading on Friday . The company traded as low as $56.15 and last traded at $56.64. 1,390,403 shares changed hands during trading, a decline of 68% from the average session volume of 4,388,572 shares. The stock had previously closed at $56.67.

Analysts Set New Price Targets

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

Cameco Stock Up 2.4 %

The stock has a market cap of $25.25 billion, a PE ratio of 148.77 and a beta of 0.90. 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 has a 50-day moving average price of $44.42 and a 200-day moving average price of $47.66.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, analysts forecast that Cameco Co. will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCJ. Massachusetts Financial Services Co. MA purchased a new position in shares of Cameco during the 2nd quarter worth $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Cameco during the 1st quarter worth $31,131,000. King Luther Capital Management Corp purchased a new position in shares of Cameco during the 2nd quarter worth $32,740,000. The Manufacturers Life Insurance Company raised its holdings in shares of Cameco by 28.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock worth $97,653,000 after acquiring an additional 437,921 shares during the period. Finally, Fred Alger Management LLC raised its holdings in shares of Cameco by 106.2% during the 2nd quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company’s stock worth $41,386,000 after acquiring an additional 433,234 shares during the period. 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.