Cameco (NYSE:CCJ) Shares Up 4.2% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares shot up 4.2% during mid-day trading on Thursday . The company traded as high as $99.65 and last traded at $98.9740. 4,544,381 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 3,780,582 shares. The stock had previously closed at $95.03.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCJ. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. William Blair began coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Glj Research reaffirmed a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Barclays began coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Performance

The firm has a 50-day simple moving average of $113.52 and a 200 day simple moving average of $109.01. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company has a market cap of $43.11 billion, a price-to-earnings ratio of 91.64, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same period last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Cameco Corporation will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Cameco

A number of hedge funds have recently added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC acquired a new stake in Cameco during the 4th quarter worth approximately $25,000. Founders Capital Management acquired a new stake in Cameco during the 4th quarter worth approximately $27,000. Strategic Advocates LLC acquired a new stake in Cameco during the 3rd quarter worth approximately $28,000. Mcguire Capital Advisors Inc. acquired a new stake in Cameco during the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 307 shares during the period. 70.21% of the stock is 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.