Cameco (NYSE:CCJ) Shares Down 2.3% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price dropped 2.3% during mid-day trading on Wednesday . The stock traded as low as $46.19 and last traded at $46.81. Approximately 1,093,328 shares traded hands during trading, a decline of 75% from the average daily volume of 4,451,008 shares. The stock had previously closed at $47.92.

Cameco Stock Down 3.4 %

The stock has a market capitalization of $20.15 billion, a P/E ratio of 243.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a fifty day moving average price of $51.59 and a 200 day moving average price of $49.59.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of CCJ. Dantai Capital Ltd grew its stake in Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after acquiring an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC bought a new position in Cameco in the 4th quarter valued at $895,000. Whalen Wealth Management Inc. purchased a new position in shares of Cameco during the 4th quarter valued at $445,000. iA Global Asset Management Inc. bought a new position in shares of Cameco in the third quarter worth $5,305,000. Finally, Telemark Asset Management LLC boosted its stake in Cameco by 8.3% during the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after buying an additional 100,000 shares during the period. 70.21% of the stock is currently owned by institutional investors.

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.