Cameco (NYSE:CCJ) Shares Up 1.4% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shot up 1.4% during trading on Thursday . The company traded as high as $106.90 and last traded at $105.4740. 2,884,693 shares were traded during trading, a decline of 24% from the average session volume of 3,818,731 shares. The stock had previously closed at $104.02.

Analyst Upgrades and Downgrades

CCJ has been the topic of several recent research reports. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a report on Monday, March 9th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada upped their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a market capitalization of $45.94 billion, a PE ratio of 97.66, a P/E/G ratio of 1.75 and a beta of 1.04. The business’s fifty day moving average price is $113.71 and its 200-day moving average price is $107.18.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (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 for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter last year, the business posted $0.16 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cameco by 79.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after buying an additional 110,629 shares during the period. NWF Advisory Services Inc. purchased a new position in shares of Cameco during the third quarter valued at about $1,996,000. Mediolanum International Funds Ltd grew its holdings in shares of Cameco by 165.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock worth $2,894,000 after acquiring an additional 21,361 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Cameco by 278.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock worth $12,208,000 after acquiring an additional 106,987 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cameco during the 3rd quarter worth approximately $31,028,000. Hedge funds and other institutional investors 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.