Cameco (NYSE:CCJ) Shares Up 1.4% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were up 1.4% on Thursday . The stock traded as high as $106.90 and last traded at $105.4740. Approximately 2,884,693 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 3,818,731 shares. The stock had previously closed at $104.02.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CCJ shares. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average price target of $153.13.

Cameco Price Performance

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 company has a market cap of $45.94 billion, a PE ratio of 97.66, a P/E/G ratio of 1.75 and a beta of 1.04. The firm has a 50 day moving average of $113.71 and a two-hundred day moving average of $107.18.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results 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 company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Cameco Corporation will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new stake in Cameco during the 4th quarter valued at about $25,000. Founders Capital Management purchased a new position in Cameco in the fourth quarter worth about $27,000. Strategic Advocates LLC bought a new position in shares of Cameco in the third quarter worth approximately $28,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Cameco during the fourth quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Cameco by 30,700.0% during 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 last quarter. 70.21% of the stock is owned by hedge funds and other 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.