Cameco (NYSE:CCJ) Stock Price Up 2.2% – Time to Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded up 2.2% during trading on Monday . The stock traded as high as $111.98 and last traded at $110.26. 3,501,300 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 4,477,145 shares. The stock had previously closed at $107.92.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Glj Research reissued a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research note on Monday, March 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Finally, Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Price Performance

The stock has a market cap of $47.65 billion, a PE ratio of 112.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The business has a 50 day moving average price of $116.94 and a two-hundred day moving average price of $98.40.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.Cameco’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. Research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in Cameco during the fourth quarter valued at about $25,000. Financial Consulate Inc. purchased a new position in Cameco in the third quarter valued at about $25,000. Founders Capital Management purchased a new position in Cameco in the fourth quarter valued at about $27,000. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.