Cameco (NYSE:CCJ) Shares Up 5.9% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded up 5.9% during trading on Monday . The company traded as high as $107.95 and last traded at $106.9650. 3,323,558 shares traded hands during trading, a decline of 12% from the average session volume of 3,767,558 shares. The stock had previously closed at $100.96.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

Cameco Stock Up 5.9%

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 stock has a 50-day simple moving average of $113.12 and a 200-day simple moving average of $109.27. The company has a market cap of $46.59 billion, a price-to-earnings ratio of 99.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Cameco Corporation will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CCJ. 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 acquired a new position in Cameco during the 3rd quarter worth $28,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco in the fourth quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the period. Institutional investors and hedge funds 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.