Cameco (NYSE:CCJ) Trading Down 6.1% - Should You Sell?

Key Points

• Cameco shares fell 6.1% on Monday, trading as low as $89.22 after closing at $95.99, with volume running about 65% above the daily average.
• Despite the decline, analysts remain generally constructive: the stock has a Moderate Buy consensus, with 12 Buy ratings and five Hold ratings, and an average price target of $148.11.
• The company recently posted stronger-than-expected quarterly results, reporting EPS of $0.34 versus $0.29 expected and revenue of $607.49 million, while institutional ownership remains high at 70.21%.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price traded down 6.1% on Monday . The stock traded as low as $89.22 and last traded at $90.1190. 6,077,998 shares changed hands during mid-day trading, an increase of 65% from the average session volume of 3,676,364 shares. The stock had previously closed at $95.99.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. William Blair initiated coverage on Cameco in a research report on Monday, April 20th. They set an "outperform" rating for the company. TD Securities downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Barclays assumed coverage on shares of Cameco in a research note on Thursday, May 21st. They set an "equal weight" rating and a $108.00 price objective on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Finally, Bank of America cut their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Cameco has an average rating of "Moderate Buy" and an average target price of $148.11.

Cameco Price Performance

The company has a 50-day moving average of $106.85 and a 200-day moving average of $110.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The firm has a market capitalization of $39.25 billion, a price-to-earnings ratio of 83.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. As a group, research analysts anticipate that Cameco Corporation will post 1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Cameco by 35.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock worth $58,187,000 after acquiring an additional 139,592 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Cameco in the fourth quarter worth $1,974,000. Vanguard Group Inc. boosted its holdings in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock worth $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cameco by 0.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock worth $1,089,080,000 after purchasing an additional 85,762 shares during the last quarter. Finally, Nikulski Financial Inc. acquired a new position in Cameco during the fourth quarter worth $930,000. 70.21% of the stock is owned by institutional investors.

About Cameco

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.