Cameco (NYSE:CCJ) Trading 1.9% Higher – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded up 1.9% during mid-day trading on Friday . The company traded as high as $113.80 and last traded at $112.7530. 2,969,868 shares traded hands during trading, a decline of 21% from the average session volume of 3,764,989 shares. The stock had previously closed at $110.63.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. William Blair assumed coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Finally, Barclays assumed coverage on Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Price Performance

The firm has a market capitalization of $49.11 billion, a P/E ratio of 104.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.04. 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 business has a 50 day simple moving average of $112.93 and a two-hundred day simple moving average of $107.62.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. On average, sell-side analysts expect that Cameco Corporation will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently added to or reduced their stakes in the business. Bison Wealth LLC increased its position in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in shares of Cameco during the 2nd quarter valued at about $14,252,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Company Profile

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.