Cameco (NYSE:CCJ) Trading Up 2.7% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was up 2.7% during trading on Wednesday . The stock traded as high as $121.34 and last traded at $119.1540. Approximately 3,102,027 shares changed hands during trading, a decline of 23% from the average daily volume of 4,030,164 shares. The stock had previously closed at $116.06.

Analyst Ratings Changes

A number of analysts have recently weighed in on CCJ shares. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Performance

The business’s 50-day simple moving average is $113.69 and its two-hundred day simple moving average is $102.47. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of 122.84 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its 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 firm had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clearstead Advisors LLC grew its stake in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after acquiring an additional 85 shares during the period. Legacy Bridge LLC increased its holdings in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after acquiring an additional 100 shares in the last quarter. Groupama Asset Managment raised its position in Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after acquiring an additional 108 shares during the period. S.A. Mason LLC lifted its holdings in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 111 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 112 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other 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.