Cameco (NYSE:CCJ) Stock Price Up 2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded up 2% on Wednesday . The company traded as high as $121.23 and last traded at $120.10. 2,847,811 shares changed hands during trading, a decline of 37% from the average session volume of 4,513,719 shares. The stock had previously closed at $117.79.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCJ shares. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Glj Research restated a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. National Bank Financial reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Stock Performance

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 stock’s 50-day simple moving average is $113.08 and its 200 day simple moving average is $95.65. The company has a market cap of $52.31 billion, a PE ratio of 123.81 and a beta of 0.98.

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

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Nisa Investment Advisors LLC acquired a new position in Cameco during the fourth quarter worth $25,000. Financial Consulate Inc. acquired a new position in shares of Cameco during the 3rd quarter worth $25,000. Founders Capital Management purchased a new stake in shares of Cameco in the fourth quarter valued at about $27,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 307 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.