Cameco (NYSE:CCJ) Trading Down 3% - Should You Sell?

On Monday, shares of Cameco Corporation (NYSE: CCJ) experienced a decline of 3%, trading at a low of $50.16 before closing at $50.93. During mid-day trading, approximately 1,731,752 shares exchanged hands, reflecting a significant drop of 61% from the average daily volume of 4,394,276 shares. This decline follows the previous closing price of $52.50.

Analyst Ratings Developments

• Cameco Is the Leading Player in the Nuclear Sector, Making It a Worthy Investment

Recently, various analysts have provided updates on Cameco's stock. Notably, Cantor Fitzgerald upgraded Cameco from a "neutral" rating to an "overweight" rating on July 31. Glj Research maintained a "buy" rating while setting a price target of $63.73 on August 14. National Bank Financial later elevated Cameco to a "strong-buy" rating on September 3. Meanwhile, Scotiabank adjusted their target price for Cameco, lowering it from $81.00 to $80.00, while maintaining an "outperform" rating as of August 19. Additionally, Janney Montgomery Scott also upgraded the stock to a "strong-buy" rating as of October 4. Currently, one investment analyst has issued a sell rating, while five analysts have given a buy rating and two have assigned a strong buy rating to the stock. MarketBeat data indicates a consensus rating of "Buy" with an average target price of $66.56.

Explore our latest insights on Cameco.

Cameco Stock Performance

• Nuclear Power Gains Momentum: Key Stocks to Monitor Now

Cameco's financial health remains robust, indicated by a current ratio of 3.22 and a quick ratio of 1.48. The company boasts a debt-to-equity ratio of 0.23. Additionally, its 50-day simple moving average is $47.19, while the 200-day simple moving average sits at $48.05, with a market capitalization of $22.44 billion. The stock has a PE ratio of 118.44 and a beta of 0.89, suggesting it has lower volatility compared to the broader market.

Institutional Ownership Activity

In recent months, several institutional investors have adjusted their stakes in Cameco. For instance, BNP Paribas acquired a new stake worth $93,000 in the first quarter. Daiwa Securities Group Inc. expanded its holding by 207.3% during the same period, now owning 7,990 shares valued at $346,000 after purchasing an additional 5,390 shares. Meanwhile, Wellington Shields Capital Management LLC increased its position by 6.2%, owning 13,700 shares worth $594,000 after acquiring an additional 800 shares. Larson Financial Group LLC also raised its holdings significantly by 99.3%, ultimately owning 1,204 shares worth $52,000. Furthermore, Mediolanum International Funds Ltd entered a new position valued at around $198,000. Overall, institutional investors and hedge funds own 70.21% of Cameco’s stock.

About Cameco Corporation

Cameco Corporation is a leading supplier of uranium used in electricity generation. The company operates through several segments, including Uranium, Fuel Services, and Westinghouse. The Uranium segment focuses on the exploration, mining, and milling of uranium concentrate, along with its purchase and sale. Meanwhile, the Fuel Services segment specializes in refining, conversion, and fabrication of uranium concentrate and the associated purchase and sale of conversion services.

Key Considerations for Investors

Before deciding on an investment in Cameco, it is essential to evaluate current market sentiments and analyst recommendations. Despite a current “Buy” rating, analysts have identified other stocks as potentially better investment opportunities.

In light of the recent fluctuations in stock price and analyst ratings, prospective investors may want to consider whether it's prudent to hold onto their shares or explore different investment avenues.

Cameco, Stocks, Analysis