Cameco (NYSE:CCJ) Stock Price Up 1% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was up 1% on Tuesday . The stock traded as high as $114.05 and last traded at $111.4620. Approximately 2,548,523 shares changed hands during trading, a decline of 43% from the average daily volume of 4,439,447 shares. The stock had previously closed at $110.31.

Analysts Set New Price Targets

CCJ has been the subject of a number of analyst reports. Glj Research restated a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce increased their target price on shares of Cameco to $202.00 in a research note on Monday, March 9th. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Stock Down 2.7%

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 stock has a market cap of $46.38 billion, a P/E ratio of 109.78 and a beta of 0.98. The company’s 50 day moving average price is $117.05 and its two-hundred day moving average price is $98.48.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Consulate Inc. purchased a new stake in shares of Cameco in the 3rd quarter worth approximately $25,000. Nisa Investment Advisors LLC purchased a new position in Cameco during the fourth quarter valued at approximately $25,000. Founders Capital Management bought a new position in Cameco in the fourth quarter worth approximately $27,000. Strategic Advocates LLC bought a new position in Cameco in the third quarter worth approximately $28,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Cameco during the fourth quarter worth $28,000. 70.21% of the stock is currently owned by institutional investors.

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.