Cameco (NYSE:CCJ) Trading 3.4% Higher on Analyst Upgrade

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares shot up 3.4% during trading on Tuesday after Canadian Imperial Bank of Commerce raised their price target on the stock to $202.00. The company traded as high as $122.30 and last traded at $120.1350. 4,657,676 shares traded hands during trading, an increase of 4% from the average session volume of 4,468,583 shares. The stock had previously closed at $116.14.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Finally, Raymond James Financial restated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Cameco during the 4th quarter valued at $443,265,000. TD Asset Management Inc lifted its stake in shares of Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after buying an additional 2,489,207 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after buying an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Trading Up 3.4%

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $52.32 billion, a P/E ratio of 123.85 and a beta of 0.98. The firm’s 50-day moving average price is $114.84 and its 200 day moving average price is $96.83.

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

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.