Cameco (NYSE:CCJ) Stock Price Up 2% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 2% on Friday . The stock traded as high as $101.97 and last traded at $100.9430. Approximately 2,399,095 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 3,770,170 shares. The stock had previously closed at $98.97.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several research analyst reports. Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Barclays assumed 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. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Glj Research restated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Price Performance

The company has a 50-day simple moving average of $113.12 and a 200-day simple moving average of $109.09. The stock has a market cap of $43.96 billion, a PE ratio of 93.47, a PEG ratio of 1.71 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 (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Sell-side analysts anticipate that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Institutional Trading of Cameco

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC acquired a new stake in Cameco in the first quarter valued at $30,000. Nisa Investment Advisors LLC acquired a new stake in Cameco in the fourth quarter valued at $25,000. Brown Lisle Cummings Inc. grew its holdings in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Founders Capital Management acquired a new stake in Cameco in the fourth quarter valued at $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Cameco in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.