Cameco (NYSE:CCJ) Stock Price Up 5.2% – Time to Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 5.2% during mid-day trading on Wednesday . The stock traded as high as $119.80 and last traded at $115.9640. Approximately 3,454,640 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 4,129,070 shares. The stock had previously closed at $110.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CCJ shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a research report on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Finally, Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a research report on Monday, March 9th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Price Performance

The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $50.51 billion, a price-to-earnings ratio of 119.55 and a beta of 1.02. The stock has a 50-day moving average price of $114.83 and a 200 day moving average price of $101.39.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same period last year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently modified their holdings of the business. Financial Consulate Inc. acquired a new stake in shares of Cameco during the 3rd quarter valued at about $25,000. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco during the 4th quarter valued at about $25,000. Founders Capital Management acquired a new stake in shares of Cameco during the 4th quarter valued at about $27,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the 3rd quarter valued at about $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco during the 4th quarter valued at about $28,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.