Cameco (NYSE:CCJ) Trading 5.7% Higher – What’s Next?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were up 5.7% during trading on Tuesday . The stock traded as high as $50.05 and last traded at $50.16. Approximately 1,012,375 shares were traded during trading, a decline of 79% from the average daily volume of 4,783,444 shares. The stock had previously closed at $47.45.

Cameco Stock Performance

The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $21.19 billion, a P/E ratio of 256.24 and a beta of 0.94. The company’s 50 day moving average is $53.25 and its 200-day moving average is $49.35.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, equities analysts anticipate that Cameco Co. will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Cameco

Institutional investors have recently modified their holdings of the company. Dantai Capital Ltd increased its stake in Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after purchasing an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of Cameco during the fourth quarter worth about $895,000. Whalen Wealth Management Inc. acquired a new stake in shares of Cameco in the 4th quarter worth about $445,000. iA Global Asset Management Inc. bought a new position in Cameco in the 3rd quarter valued at about $5,305,000. Finally, Telemark Asset Management LLC boosted its stake in Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after purchasing an additional 100,000 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.