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

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded up 4% during trading on Monday . The stock traded as high as $106.69 and last traded at $105.5780. 3,915,930 shares were traded during mid-day trading, a decline of 11% from the average session volume of 4,407,702 shares. The stock had previously closed at $101.55.

Analysts Set New Price Targets

CCJ has been the topic of a number of research analyst reports. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Glj Research reissued a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Trading Up 0.9%

The stock’s 50 day simple moving average is $116.82 and its two-hundred day simple moving average is $99.52. The stock has a market capitalization of $47.46 billion, a PE ratio of 112.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. Cameco’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. On average, sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Trading of Cameco

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors raised its stake in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after acquiring an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cameco by 0.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after purchasing an additional 849,188 shares during the period. 70.21% of the stock is currently owned by institutional investors.

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.