Cameco (NYSE:CCJ) Stock Price Down 0% – Should You Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) dropped 0% on Monday . The stock traded as low as $57.52 and last traded at $58.01. Approximately 1,784,072 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 4,399,564 shares. The stock had previously closed at $58.02.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CCJ shares. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Bank of America increased their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cameco has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Down 4.6 %

The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $45.14 and a two-hundred day simple moving average of $47.77. The firm has a market cap of $23.53 billion, a PE ratio of 142.26 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The firm had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. Analysts expect that Cameco Co. will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC purchased a new position in shares of Cameco in the first quarter worth about $273,000. Thompson Investment Management Inc. lifted its position in Cameco by 16.5% in the first quarter. Thompson Investment Management Inc. now owns 6,515 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 925 shares during the last quarter. Sunpointe LLC boosted its stake in shares of Cameco by 4.7% during the first quarter. Sunpointe LLC now owns 13,218 shares of the basic materials company’s stock valued at $573,000 after purchasing an additional 591 shares during the period. S.A. Mason LLC grew its holdings in shares of Cameco by 21.1% in the first quarter. S.A. Mason LLC now owns 3,191 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 556 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new position in shares of Cameco in the first quarter worth $1,378,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.