Cameco (NYSE:CCJ) Stock Price Up 2.3% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 2.3% on Wednesday . The company traded as high as $114.46 and last traded at $111.1420. Approximately 2,818,634 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 4,243,956 shares. The stock had previously closed at $108.61.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price 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. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Finally, TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Stock Performance

The company’s fifty day moving average price is $115.98 and its two-hundred day moving average price is $100.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The firm has a market capitalization of $48.41 billion, a PE ratio of 114.58 and a beta of 0.98.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Abbington Investment Group purchased a new stake in Cameco during the third quarter worth approximately $6,506,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after acquiring an additional 110,629 shares during the period. NWF Advisory Services Inc. acquired a new position in shares of Cameco during the 3rd quarter valued at $1,996,000. Thames Capital Management LLC lifted its holdings in shares of Cameco by 66.8% during the 3rd quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock valued at $8,978,000 after acquiring an additional 42,879 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Cameco by 7.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,755,802 shares of the basic materials company’s stock worth $231,102,000 after purchasing an additional 202,279 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.