Cameco (NYSE:CCJ) Shares Down 1.9% - Time to Sell?

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO dropped 1.9% during trading on Monday . The stock traded as low as $76.88 and last traded at $77.47. Approximately 1,306,118 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 4,591,877 shares. The stock had previously closed at $78.97.

Analysts Set New Price Targets

A number of research firms have weighed in on CCJ. Royal Bank Of Canada increased their price target on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Finally, Desjardins began coverage on shares of Cameco in a research report on Friday, April 4th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cameco currently has a consensus rating of "Buy" and an average price target of $80.65.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. The stock has a market cap of $33.59 billion, a P/E ratio of 192.90 and a beta of 1.03. The business's fifty day moving average price is $65.38 and its 200 day moving average price is $52.54.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business had revenue of $549.58 million during the quarter, compared to analysts' expectations of $890.07 million. During the same period last year, the company posted $0.13 EPS. Cameco's revenue for the quarter was up 24.4% on a year-over-year basis. Sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Trust Co. of Vermont boosted its position in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 350 shares during the period. Hilltop National Bank acquired a new position in Cameco in the 2nd quarter worth about $30,000. Atticus Wealth Management LLC bought a new position in shares of Cameco in the 2nd quarter valued at approximately $34,000. Hurley Capital LLC acquired a new position in Cameco during the fourth quarter valued at approximately $27,000. Finally, Manchester Capital Management LLC grew its stake in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after buying an additional 300 shares during the last quarter. 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.

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