Cameco (NYSE:CCJ) Stock Price Down 3.3% - Should You Sell?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares fell 3.3% during trading on Tuesday . The stock traded as low as $55.31 and last traded at $56.02. 2,257,895 shares traded hands during trading, a decline of 49% from the average session volume of 4,402,629 shares. The stock had previously closed at $57.92.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCJ. Scotiabank reduced their target price on Cameco from $81.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Janney Montgomery Scott raised Cameco to a "strong-buy" rating in a research note on Friday, October 4th. Cantor Fitzgerald upgraded Cameco from a "neutral" rating to an "overweight" rating in a research report on Wednesday, July 31st. Bank of America boosted their price target on shares of Cameco from $59.00 to $60.50 and gave the stock a "buy" rating in a research report on Wednesday, June 26th. Finally, Glj Research reiterated a "buy" rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Cameco has a consensus rating of "Buy" and a consensus target price of $66.56.

Cameco Price Performance

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 firm's 50 day simple moving average is $45.14 and its 200 day simple moving average is $47.77. The company has a market capitalization of $24.67 billion, a PE ratio of 145.33 and a beta of 0.90.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million for the quarter, compared to analysts' expectations of $756.00 million. During the same quarter last year, the firm earned ($0.01) EPS. The firm's quarterly revenue was up 24.1% on a year-over-year basis. As a group, research analysts anticipate that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC increased its stake in Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company's stock worth $868,000 after buying an additional 2,683 shares during the period. LRI Investments LLC bought a new position in Cameco in the first quarter worth approximately $30,000. Susquehanna Fundamental Investments LLC purchased a new position in Cameco during the 1st quarter worth $295,000. Moss Adams Wealth Advisors LLC bought a new stake in Cameco during the 3rd quarter valued at $441,000. Finally, Sei Investments Co. lifted its holdings in shares of Cameco by 285.3% in the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company's stock worth $3,530,000 after buying an additional 53,144 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

About Cameco

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.