Cameco (NYSE:CCJ) Stock Price Down 5.6% - Time to Sell?

Key Points

• Shares of Cameco fell 5.6% intraday to about $116.26 on Tuesday, with trading volume of 3.15M shares (roughly 20% below the average) after a prior close of $123.11.
• Analysts remain mostly bullish: the consensus rating is "Moderate Buy" with an average price target of $150.40, though TD Securities recently trimmed its view to Hold while others keep Buy/Outperform ratings.
• Cameco beat quarterly estimates with $0.36 EPS (vs. $0.29 est.) and $874.6M revenue, but trades at a high P/E of 119.9 and a $50.6B market cap, and institutional investors now own about 70.21% of the company.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO fell 5.6% during mid-day trading on Tuesday . The company traded as low as $115.48 and last traded at $116.2630. 3,151,526 shares were traded during trading, a decline of 20% from the average session volume of 3,953,295 shares. The stock had previously closed at $123.11.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Sanford C. Bernstein reiterated an "outperform" rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Wednesday, January 14th. Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of "Moderate Buy" and a consensus price target of $150.40.

Cameco Trading Down 5.6%

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The business's 50-day moving average is $114.85 and its 200 day moving average is $104.80. The firm has a market capitalization of $50.64 billion, a P/E ratio of 119.86, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Cameco Corporation will post 1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Cameco during the 4th quarter valued at $443,265,000. TD Asset Management Inc lifted its position in Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company's stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the period. Marshall Wace LLP lifted its position in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the period. Van ECK Associates Corp grew its stake in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock worth $456,530,000 after buying an additional 1,644,061 shares in the last quarter. Finally, Mizuho Markets Cayman LP acquired a new stake in Cameco during the third quarter worth about $128,370,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Company Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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