Cameco (NYSE:CCJ) Trading Down 2.4% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were down 2.4% during mid-day trading on Thursday . The company traded as low as $115.60 and last traded at $116.2830. Approximately 3,883,828 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 4,870,853 shares. The stock had previously closed at $119.18.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group assumed coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. National Bank Financial restated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada reduced their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $131.39.

Cameco Stock Performance

The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $105.99 and a two-hundred day moving average price of $91.62. The stock has a market capitalization of $50.64 billion, a P/E ratio of 135.21 and a beta of 0.99.

Institutional Trading of Cameco

Large investors have recently made changes to their positions in the company. Clearstead Advisors LLC raised its stake in Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after buying an additional 85 shares during the period. Legacy Bridge LLC increased its holdings in shares of Cameco by 0.9% during the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after acquiring an additional 100 shares in the last quarter. S.A. Mason LLC increased its holdings in shares of Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 111 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 112 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Cameco by 3.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 114 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.