Cameco (NYSE:CCJ) Shares Down 4.4% - Should You Sell?

Key Points

• Cameco Corporation shares fell by 4.4% to $83.08 amid heavy trading, with a volume increase of 29% compared to the average daily volume.
• Wall Street analysts remain optimistic about Cameco, with the average target price set at $89.55 and a majority rating of "Buy" from 16 analysts.
• In its latest quarterly report, Cameco reported earnings per share of $0.51, exceeding expectations, though its revenue of $467.72 million fell short of analysts' forecasts.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO were down 4.4% during trading on Wednesday . The company traded as low as $82.95 and last traded at $83.08. Approximately 6,120,565 shares traded hands during mid-day trading, an increase of 29% from the average daily volume of 4,748,881 shares. The stock had previously closed at $86.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCJ shares. CLSA started coverage on Cameco in a research note on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 target price for the company. UBS Group set a $102.00 price target on Cameco in a report on Tuesday, September 9th. The Goldman Sachs Group boosted their target price on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. President Capital raised shares of Cameco from a "neutral" rating to a "buy" rating in a research note on Monday. Finally, TD Securities restated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $89.55.

Cameco Price Performance

The stock has a market capitalization of $36.17 billion, a P/E ratio of 95.49 and a beta of 1.04. The stock's fifty day moving average is $77.75 and its 200-day moving average is $62.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. The firm had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco's revenue for the quarter was up 46.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SevenBridge Financial Group LLC acquired a new position in Cameco during the 2nd quarter worth $208,000. Thompson Davis & CO. Inc. acquired a new position in shares of Cameco during the second quarter valued at about $228,000. Coppell Advisory Solutions LLC bought a new stake in shares of Cameco in the second quarter valued at about $296,000. Tyler Stone Wealth Management bought a new stake in shares of Cameco in the second quarter valued at about $279,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Cameco in the second quarter valued at about $500,000. 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.

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