Cameco (NYSE:CCJ) Stock Price Up 1.2% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded up 1.2% during trading on Thursday . The company traded as high as $112.74 and last traded at $112.5190. 2,243,851 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 4,213,204 shares. The stock had previously closed at $111.13.

Analyst Ratings Changes

CCJ has been the topic of a number of research reports. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Royal Bank Of Canada lifted 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. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.40.

Cameco Price Performance

The company has a market capitalization of $49.01 billion, a P/E ratio of 116.00 and a beta of 1.02. 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 business has a 50 day simple moving average of $115.76 and a 200-day simple moving average of $100.49.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of hedge funds have recently made changes to their positions in CCJ. Financial Consulate Inc. bought a new position in Cameco in the 3rd quarter worth approximately $25,000. Nisa Investment Advisors LLC acquired a new position in Cameco during the 4th quarter worth $25,000. Founders Capital Management acquired a new position in Cameco during the 4th quarter worth $27,000. Strategic Advocates LLC bought a new position in shares of Cameco in the third quarter worth $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco during the fourth quarter valued at $28,000. Institutional investors own 70.21% of the company’s stock.

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.