Cameco (NYSE:CCJ) Trading 7% Higher – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded up 7% during mid-day trading on Tuesday . The company traded as high as $114.36 and last traded at $120.5590. 2,657,457 shares traded hands during trading, a decline of 12% from the average session volume of 3,018,333 shares. The stock had previously closed at $112.7140.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. William Blair assumed coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Glj Research reaffirmed a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.62.

Cameco Trading Down 4.7%

The stock’s 50 day moving average is $113.68 and its two-hundred day moving average is $108.30. The company has a market capitalization of $50.00 billion, a PE ratio of 106.31, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in CCJ. Allianz Asset Management GmbH increased its holdings in shares of Cameco by 278.3% during the third quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock valued at $12,208,000 after acquiring an additional 106,987 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Cameco by 4.6% during the third quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after acquiring an additional 108,841 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new position in shares of Cameco during the fourth quarter valued at about $1,974,000. Caprock Group LLC acquired a new position in shares of Cameco during the third quarter valued at about $1,066,000. Finally, Intech Investment Management LLC increased its holdings in shares of Cameco by 3.8% during the third quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock valued at $42,031,000 after acquiring an additional 18,261 shares in the last quarter. 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.