Cameco (NYSE:CCJ) Sees Strong Trading Volume After Analyst Upgrade

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares saw strong trading volume on Monday after Raymond James raised their price target on the stock from C$29.00 to C$34.00. Raymond James currently has an outperform rating on the stock. 207,959 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 5,697,459 shares.The stock last traded at $20.98 and had previously closed at $22.46.

A number of other brokerages also recently weighed in on CCJ. TD Securities increased their price target on shares of Cameco from C$25.00 to C$35.00 and gave the company a “hold” rating in a report on Wednesday, September 15th. Scotiabank increased their price target on shares of Cameco from C$25.00 to C$27.00 in a report on Monday, July 12th. Zacks Investment Research raised shares of Cameco from a “strong sell” rating to a “hold” rating in a report on Thursday, September 16th. Finally, Royal Bank of Canada raised shares of Cameco from an “underperform” rating to a “sector perform” rating in a report on Thursday, September 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.17.

Large investors have recently added to or reduced their stakes in the company. Capital Analysts LLC acquired a new stake in shares of Cameco during the 2nd quarter worth about $29,000. Fifth Third Bancorp increased its position in shares of Cameco by 543.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,757 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 1,484 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Cameco during the 1st quarter worth about $33,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Cameco during the 2nd quarter worth about $46,000. Finally, Captrust Financial Advisors increased its position in shares of Cameco by 114.2% during the 1st quarter. Captrust Financial Advisors now owns 2,622 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,398 shares in the last quarter. 60.11% of the stock is owned by institutional investors.

The firm has a market cap of $8.48 billion, a price-to-earnings ratio of -532.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.98 and a current ratio of 7.94. The business’s 50-day moving average is $18.69 and its 200-day moving average is $18.53.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, July 27th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). The firm had revenue of $292.25 million for the quarter. Cameco had a negative return on equity of 1.97% and a negative net margin of 1.50%. Equities research analysts expect that Cameco Co. will post -0.14 EPS for the current fiscal year.

About Cameco (NYSE:CCJ)

Cameco Corp. engages in the provision of uranium. The company operates through the following segments: Uranium and Fuel Services. The Uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The Fuel Services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services.

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