Cameco (NYSE:CCJ) Hits New 12-Month High – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $68.12 and last traded at $66.94, with a volume of 16010959 shares traded. The stock had previously closed at $60.42.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Glj Research increased their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, May 14th. UBS Group reaffirmed a “buy” rating on shares of Cameco in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and a consensus price target of $75.70.

Cameco Trading Up 3.8%

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 company’s 50 day moving average is $49.54 and its two-hundred day moving average is $49.45. The firm has a market cap of $28.85 billion, a P/E ratio of 236.70 and a beta of 0.97.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, sell-side analysts predict that Cameco Co. will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently made changes to their positions in CCJ. Sierra Ocean LLC bought a new stake in shares of Cameco in the fourth quarter valued at about $25,000. Manchester Capital Management LLC lifted its stake in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 300 shares during the period. Hurley Capital LLC bought a new position in Cameco during the fourth quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Cameco during the fourth quarter worth about $28,000. Finally, Dagco Inc. bought a new position in Cameco during the first quarter worth about $28,000. 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.