Cameco (NYSE:CCJ) Trading 1.9% Higher – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price shot up 1.9% during trading on Friday . The stock traded as high as $113.80 and last traded at $112.7530. 2,969,868 shares traded hands during trading, a decline of 21% from the average session volume of 3,764,989 shares. The stock had previously closed at $110.63.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCJ. Barclays began coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Royal Bank Of Canada increased their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, William Blair assumed coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Trading Up 1.9%

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 has a fifty day simple moving average of $112.93 and a two-hundred day simple moving average of $107.62. The firm has a market cap of $49.11 billion, a PE ratio of 104.40, a PEG ratio of 1.81 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter last year, the business posted $0.16 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC purchased a new stake in Cameco in the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC purchased a new stake in Cameco in the 4th quarter worth approximately $25,000. Brown Lisle Cummings Inc. lifted its holdings in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after buying an additional 288 shares during the period. Founders Capital Management purchased a new stake in Cameco in the 4th quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.