Cameco (NYSE:CCJ) Trading Up 2.2% – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 2.2% during trading on Tuesday . The stock traded as high as $60.97 and last traded at $59.46. 2,765,909 shares were traded during trading, a decline of 34% from the average session volume of 4,220,943 shares. The stock had previously closed at $58.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Cameco in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price target for the company. The Goldman Sachs Group started coverage on Cameco in a report on Tuesday, May 20th. They issued a “buy” rating and a $65.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus started coverage on shares of Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $70.53.

Cameco Trading Up 2.7%

The firm’s 50-day moving average price is $46.57 and its 200 day moving average price is $49.13. The company has a market cap of $26.00 billion, a price-to-earnings ratio of 213.32 and a beta of 0.89. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts expect that Cameco Co. will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

Several large investors have recently added to or reduced their stakes in CCJ. Country Club Bank raised its position in Cameco by 0.5% in the 1st quarter. Country Club Bank now owns 43,553 shares of the basic materials company’s stock valued at $1,822,000 after buying an additional 224 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Cameco by 37.4% in the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 226 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Cameco by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock valued at $2,592,000 after purchasing an additional 238 shares during the last quarter. Heritage Wealth Management Inc. lifted its position in shares of Cameco by 0.8% during the fourth quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after purchasing an additional 250 shares in the last quarter. Finally, Sunpointe LLC lifted its position in shares of Cameco by 1.8% during the first quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company’s stock valued at $670,000 after purchasing an additional 288 shares in the last quarter. 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.