Cameco (NYSE:CCJ) Stock Price Up 1.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price shot up 1.2% during trading on Thursday . The stock traded as high as $112.74 and last traded at $112.5190. 2,243,851 shares changed hands during 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 subject of several research analyst reports. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Royal Bank Of Canada upped their price target on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Finally, Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Trading Up 1.2%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a market cap of $49.01 billion, a price-to-earnings ratio of 116.00 and a beta of 1.02. The company’s 50 day simple moving average is $115.76 and its two-hundred day simple moving average is $100.49.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same period in the previous year, the company posted $0.36 EPS. Cameco’s revenue was up 1.5% on a year-over-year basis. Research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CCJ. Financial Consulate Inc. purchased a new stake in shares of Cameco during the 3rd quarter worth about $25,000. Nisa Investment Advisors LLC bought a new stake in shares of Cameco in the 4th quarter valued at approximately $25,000. Founders Capital Management bought a new stake in shares of Cameco in the 4th quarter valued at approximately $27,000. Strategic Advocates LLC acquired a new position in Cameco in the third quarter worth approximately $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in Cameco in the fourth quarter worth approximately $28,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.