Cameco (NYSE:CCJ) Shares Up 5.9% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares shot up 5.9% during mid-day trading on Monday . The stock traded as high as $107.95 and last traded at $106.9650. 3,323,558 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 3,767,558 shares. The stock had previously closed at $100.96.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCJ. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Cameco in a report on Monday. Canadian Imperial Bank of Commerce upped their price target on shares of Cameco to $202.00 in a report on Monday, March 9th. 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 report on Tuesday, February 17th. Glj Research reaffirmed a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, Barclays initiated coverage on shares of Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.42.

Cameco Stock Up 5.9%

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 firm has a market capitalization of $46.59 billion, a P/E ratio of 99.04, a P/E/G ratio of 1.71 and a beta of 0.99. The stock has a fifty day moving average price of $113.12 and a two-hundred day moving average price of $109.27.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the business earned $0.16 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Cameco Corporation will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new position in Cameco during the 4th quarter worth $25,000. Founders Capital Management bought a new position in Cameco during the 4th quarter worth $27,000. Strategic Advocates LLC bought a new position in Cameco during the 3rd quarter worth $28,000. Mcguire Capital Advisors Inc. bought a new position in Cameco during the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd grew its stake 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 buying an additional 307 shares during the last quarter. 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.