Cameco (NYSE:CCJ) Trading Down 9.2% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price dropped 9.2% on Friday . The company traded as low as $102.45 and last traded at $103.5210. Approximately 3,836,750 shares changed hands during trading, an increase of 2% from the average daily volume of 3,752,298 shares. The stock had previously closed at $114.02.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce boosted their price objective on Cameco to $202.00 in a research report on Monday, March 9th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Glj Research reaffirmed a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Performance

The firm’s fifty day moving average price is $113.70 and its 200-day moving average price is $108.47. The company has a market cap of $45.09 billion, a P/E ratio of 95.85, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. As a group, research analysts forecast that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Cameco in the 4th quarter valued at $443,265,000. TD Asset Management Inc boosted its position in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after acquiring an additional 2,489,207 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp increased its stake in Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after acquiring an additional 1,644,061 shares during the period. Finally, Mizuho Markets Cayman LP bought a new stake in Cameco in the third quarter valued at about $128,370,000. 70.21% of the stock is currently 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.