Cameco (NYSE:CCJ) Shares Up 1.6% – Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 1.6% during mid-day trading on Tuesday . The company traded as high as $111.49 and last traded at $108.78. 3,707,648 shares traded hands during trading, a decline of 1% from the average session volume of 3,731,580 shares. The stock had previously closed at $107.07.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCJ. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price target on shares of Cameco in a report on Monday, June 15th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Barclays began coverage on Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target for the company. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Cameco to $202.00 in a research note on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $147.42.

Cameco Price Performance

The company has a fifty day simple moving average of $112.40 and a 200-day simple moving average of $110.05. The company has a market cap of $47.38 billion, a P/E ratio of 100.72, a PEG ratio of 1.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

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 the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. On average, sell-side analysts predict that Cameco Corporation will post 1.21 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new stake in Cameco during the fourth quarter valued at about $25,000. Founders Capital Management acquired a new stake in shares of Cameco during the fourth quarter valued at approximately $27,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the third quarter valued at approximately $28,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.