Cameco (NYSE:CCJ) Trading Up 2.1% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded up 2.1% during trading on Tuesday . The stock traded as high as $108.28 and last traded at $107.8370. 2,847,917 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 4,374,714 shares. The stock had previously closed at $105.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada lifted their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.40.

Cameco Price Performance

The business has a fifty day moving average of $116.82 and a two-hundred day moving average of $99.52. 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 firm has a market capitalization of $45.56 billion, a price-to-earnings ratio of 107.84 and a beta of 0.98.

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

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Consulate Inc. bought a new stake in shares of Cameco during the third quarter worth approximately $25,000. Nisa Investment Advisors LLC acquired a new position in shares of Cameco in the fourth quarter valued at approximately $25,000. Founders Capital Management bought a new position in shares of Cameco during the fourth quarter worth approximately $27,000. Strategic Advocates LLC acquired a new stake in Cameco during the 3rd quarter worth approximately $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Cameco during the 4th quarter worth approximately $28,000. Institutional investors own 70.21% of the company’s stock.

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.