Cameco (NYSE:CCJ) Trading 3.5% Higher – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded up 3.5% during mid-day trading on Tuesday . The stock traded as high as $108.96 and last traded at $108.41. 2,887,368 shares traded hands during trading, a decline of 24% from the average session volume of 3,796,963 shares. The stock had previously closed at $104.75.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Barclays began coverage on shares of Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Price Performance

The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm’s 50 day simple moving average is $112.93 and its 200 day simple moving average is $107.62. The company has a market capitalization of $48.27 billion, a PE ratio of 102.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, research analysts anticipate that Cameco Corporation will post 1.32 EPS for the current fiscal year.

Institutional Trading of Cameco

A number of large investors have recently made changes to their positions in CCJ. Bison Wealth LLC boosted its stake in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC boosted its stake in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after purchasing an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new stake in shares of Cameco during the second quarter valued at $14,252,000. 70.21% of the stock is 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.