Cameco (NYSE:CCJ) Shares Down 1.1% – Time to Sell?
by Mitch Edgeman · The Markets DailyCameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s share price traded down 1.1% on Monday . The company traded as low as $101.28 and last traded at $102.7610. 2,679,607 shares were traded during trading, a decline of 37% from the average session volume of 4,266,048 shares. The stock had previously closed at $103.92.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on CCJ. Royal Bank Of Canada boosted their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Raymond James Financial restated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Finally, Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.40.
Check Out Our Latest Report on CCJ
Cameco Stock Down 1.1%
The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $116.40 and its 200-day moving average price is $100.04. The company has a market cap of $44.76 billion, a P/E ratio of 105.94 and a beta of 0.98.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.
Institutional Investors Weigh In On Cameco
Hedge funds and other institutional investors have recently modified their holdings of the company. Bison Wealth LLC grew its position in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC raised its holdings in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in shares of Cameco during the second quarter valued at about $14,252,000. Institutional investors own 70.21% of the company’s stock.
Cameco Company Profile
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.