Cameco (NYSE:CCJ) Stock Price Up 1.8% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 1.8% on Monday . The company traded as high as $107.04 and last traded at $105.3460. Approximately 2,156,717 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 3,738,127 shares. The stock had previously closed at $103.44.

Analyst Ratings Changes

CCJ has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. William Blair began coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Barclays began coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective for the company. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Cameco to $202.00 in a research note on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Price Performance

The firm has a market capitalization of $41.35 billion, a price-to-earnings ratio of 87.91, a P/E/G ratio of 1.79 and a beta of 0.99. The company’s 50 day moving average is $113.68 and its 200-day moving average is $108.92. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period last year, the business posted $0.16 EPS. Cameco’s revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Cameco Corporation will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bison Wealth LLC lifted its holdings in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC lifted its holdings in Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco in the second quarter valued at $14,252,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.