Cameco (NYSE:CCJ) Stock Price Up 6.4% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price rose 6.4% during mid-day trading on Monday . The stock traded as high as $126.13 and last traded at $125.9240. Approximately 4,305,738 shares changed hands during trading, a decline of 5% from the average daily volume of 4,529,154 shares. The stock had previously closed at $118.40.

Analyst Upgrades and Downgrades

CCJ has been the topic of several research analyst reports. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Royal Bank Of Canada raised their price objective 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. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Cameco Price Performance

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $54.84 billion, a price-to-earnings ratio of 129.82 and a beta of 0.98. The business’s 50 day simple moving average is $111.91 and its 200-day simple moving average is $95.00.

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

Institutional Investors Weigh In On Cameco

A number of large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in shares of Cameco during the 4th quarter worth $25,000. Financial Consulate Inc. bought a new position in Cameco in the third quarter valued at about $25,000. Founders Capital Management acquired a new position in Cameco during the fourth quarter worth about $27,000. Mcguire Capital Advisors Inc. acquired a new position in Cameco during the fourth quarter worth about $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 worth $28,000 after acquiring an additional 307 shares during the last quarter. 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.