Cameco (NYSE:CCJ) Stock Price Down 2.3% - Time to Sell?

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price was down 2.3% during mid-day trading on Thursday . The stock traded as low as $69.32 and last traded at $69.91. Approximately 2,563,952 shares were traded during trading, a decline of 44% from the average daily volume of 4,547,872 shares. The stock had previously closed at $71.55.

Analyst Ratings Changes

Several research analysts recently issued reports on CCJ shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Desjardins assumed coverage on Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Finally, Glj Research restated a "buy" rating and issued a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $80.65.

Cameco Trading Up 2.6%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The firm has a market cap of $31.63 billion, a P/E ratio of 181.65 and a beta of 1.03. The stock has a fifty day simple moving average of $62.58 and a 200 day simple moving average of $51.67.

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

Institutional Investors Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its stake in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Hurley Capital LLC bought a new stake in Cameco during the fourth quarter worth approximately $27,000. Dagco Inc. bought a new stake in Cameco during the first quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in Cameco during the first quarter worth approximately $29,000. Finally, Atticus Wealth Management LLC bought a new stake in Cameco during the second quarter worth approximately $34,000. 70.21% of the stock is owned by 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.