Cameco (NYSE:CCJ) Stock Jumps 5.7% – Time to Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price rose 5.7% during mid-day trading on Tuesday. The stock traded as high as $92.46 and last traded at $92.4230. 1,685,831 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 3,509,266 shares. The stock had previously closed at $87.47.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Bank of America decreased their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.68.

Cameco Price Performance

The stock’s 50 day moving average is $94.87 and its two-hundred day moving average is $102.71. The stock has a market capitalization of $41.03 billion, a PE ratio of 159.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter in the previous year, the firm earned $0.71 EPS. Cameco’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Cameco Corporation will post 1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of CCJ. HB Wealth Management LLC grew its position in Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after acquiring an additional 107 shares during the last quarter. Groupama Asset Managment raised its stake in shares of Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after acquiring an additional 108 shares during the last quarter. Syon Capital LLC lifted its holdings in Cameco by 1.5% in the 4th quarter. Syon Capital LLC now owns 8,246 shares of the basic materials company’s stock worth $754,000 after buying an additional 125 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Cameco by 0.8% in the second quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company’s stock valued at $1,540,000 after acquiring an additional 125 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Cameco by 4.1% during the 1st quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company’s stock valued at $371,000 after purchasing an additional 134 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world’s major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company’s operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.