Cameco (NYSE:CCJ) Trading Up 2.2% – Should You Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were up 2.2% during mid-day trading on Wednesday . The stock traded as high as $44.28 and last traded at $44.06. Approximately 809,442 shares were traded during trading, a decline of 80% from the average daily volume of 4,073,831 shares. The stock had previously closed at $43.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CCJ shares. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus assumed coverage on shares of Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Glj Research lifted their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $73.64.

Cameco Stock Performance

The company has a market cap of $19.08 billion, a PE ratio of 156.66 and a beta of 1.04. The business’s 50-day moving average is $47.40 and its 200 day moving average is $50.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. On average, equities research analysts predict that Cameco Co. will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently modified their holdings of CCJ. Glenmede Trust Co. NA lifted its position in Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 191 shares during the period. Larson Financial Group LLC lifted its position in Cameco by 37.4% during the fourth quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP increased its holdings in Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock valued at $2,592,000 after buying an additional 238 shares during the last quarter. Heritage Wealth Management Inc. increased its holdings in Cameco by 0.8% during the fourth quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after buying an additional 250 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after buying an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.