Cameco (NYSE:CCJ) Stock Price Down 4.2% - Time to Sell?

Key Points

• Cameco Corporation's stock price fell by 4.2% on Thursday, trading as low as $74.15, which is a significant decline from its previous closing price of $77.75.
• Analysts maintain a generally positive outlook on Cameco, with a consensus rating of "Buy" and a target price of $80.65.
• Cameco reported earnings per share of $0.11 for the last quarter, missing the consensus estimate of $0.18, although revenue increased by 24.4% year-over-year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price traded down 4.2% during mid-day trading on Thursday . The company traded as low as $74.15 and last traded at $74.51. 2,619,017 shares were traded during trading, a decline of 45% from the average session volume of 4,803,109 shares. The stock had previously closed at $77.75.

Analysts Set New Price Targets

CCJ has been the subject of a number of recent research reports. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. UBS Group reiterated a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Glj Research reiterated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Finally, The Goldman Sachs Group boosted their price objective on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $82.65.

Cameco Stock 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 firm has a market cap of $31.75 billion, a price-to-earnings ratio of 182.78 and a beta of 1.03. The firm has a fifty day simple moving average of $70.11 and a two-hundred day simple moving average of $54.18.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company's quarterly revenue was up 46.7% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. On average, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Transcend Capital Advisors LLC purchased a new position in shares of Cameco in the second quarter worth about $201,000. Pasadena Private Wealth LLC purchased a new position in shares of Cameco in the second quarter worth about $236,000. Ashton Thomas Private Wealth LLC raised its stake in shares of Cameco by 4.3% in the second quarter. Ashton Thomas Private Wealth LLC now owns 12,951 shares of the basic materials company's stock worth $961,000 after purchasing an additional 528 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Cameco in the second quarter worth about $341,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Cameco in the second quarter worth about $267,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.