Cameco (NYSE:CCJ) Trading 4% Higher – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 4% during mid-day trading on Friday . The stock traded as high as $114.07 and last traded at $113.66. Approximately 4,148,993 shares traded hands during trading, a decline of 18% from the average daily volume of 5,063,848 shares. The stock had previously closed at $109.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. UBS Group began coverage on Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price on the stock. Zacks Research upgraded Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $131.39.

Cameco Price Performance

The firm’s fifty day moving average price is $103.20 and its 200 day moving average price is $90.27. The stock has a market cap of $49.49 billion, a PE ratio of 132.16 and a beta of 0.99. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. Cameco’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, equities analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in CCJ. Bison Wealth LLC grew its holdings in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after acquiring an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cameco by 11.9% during 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, Ameritas Advisory Services LLC purchased a new position in Cameco during the second quarter valued at approximately $123,000. Institutional investors 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.