Cameco (NYSE:CCJ) Trading Up 2.1% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 2.1% on Tuesday . The stock traded as high as $108.28 and last traded at $107.8370. Approximately 2,847,917 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,374,714 shares. The stock had previously closed at $105.57.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada increased their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.40.

Cameco Trading Up 2.1%

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 $46.97 billion, a PE ratio of 111.17 and a beta of 0.98. The business’s 50-day moving average is $116.87 and its two-hundred day moving average is $99.22.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data 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. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the company posted $0.36 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Cameco in the fourth quarter valued at $443,265,000. TD Asset Management Inc boosted its stake in shares of Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of 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 worth $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after acquiring an additional 1,644,061 shares during the period. 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.