Cameco (NYSE:CCJ) Stock Price Up 1.6% on Analyst Upgrade

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price shot up 1.6% during mid-day trading on Tuesday after Truist Financial upgraded the stock to a strong-buy rating. The stock traded as high as $93.00 and last traded at $91.6760. Approximately 4,058,588 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 3,680,489 shares. The stock had previously closed at $90.20.

A number of other research analysts have also weighed in on CCJ. Scotiabank reissued an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada increased their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Finally, William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.18.

Institutional Trading of Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco during the fourth quarter worth $25,000. Founders Capital Management acquired a new position in shares of Cameco in the fourth quarter valued at about $27,000. Strategic Advocates LLC acquired a new position in shares of Cameco in the third quarter valued at about $28,000. Mcguire Capital Advisors Inc. bought a new position in Cameco during the fourth quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 307 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Down 3.4%

The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm’s 50 day simple moving average is $105.08 and its two-hundred day simple moving average is $110.89. The firm has a market cap of $38.28 billion, a price-to-earnings ratio of 81.14, a PEG ratio of 1.61 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Cameco Corporation will post 1.2 EPS for the current year.

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.