Cameco (NYSE:CCJ) Trading 3.2% Higher – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded up 3.2% during mid-day trading on Thursday . The company traded as high as $111.32 and last traded at $110.83. 2,761,025 shares were traded during mid-day trading, a decline of 27% from the average session volume of 3,770,621 shares. The stock had previously closed at $107.44.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCJ. Weiss Ratings downgraded Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, William Blair began coverage on Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Trading Up 1.9%

The company has a 50 day moving average of $113.00 and a two-hundred day moving average of $107.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock has a market capitalization of $49.11 billion, a PE ratio of 104.40, a P/E/G ratio of 1.87 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC acquired a new stake in Cameco during the 4th quarter worth about $25,000. Founders Capital Management acquired a new stake in Cameco during the 4th quarter worth about $27,000. Strategic Advocates LLC acquired a new stake in Cameco during the 3rd quarter worth about $28,000. Mcguire Capital Advisors Inc. acquired a new stake in Cameco during the 4th quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in 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 worth $28,000 after acquiring an additional 307 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Cameco

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.