Cameco (NYSE:CCJ) Trading Up 6.2% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares rose 6.2% during trading on Monday . The company traded as high as $120.84 and last traded at $120.69. Approximately 3,549,059 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 5,000,365 shares. The stock had previously closed at $113.63.

Analysts Set New Price Targets

CCJ has been the topic of a number of analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research report on Thursday. Royal Bank Of Canada decreased their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Finally, UBS Group began coverage on shares of Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Cameco currently has an average rating of “Buy” and a consensus target price of $131.39.

Cameco Trading Up 6.2%

The stock has a 50 day simple moving average of $104.36 and a 200-day simple moving average of $90.98. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The firm has a market cap of $52.56 billion, a P/E ratio of 140.34 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Financial Consulate Inc. purchased a new stake in Cameco during the third quarter valued at approximately $25,000. Nisa Investment Advisors LLC bought a new position in shares of Cameco during the 4th quarter valued at approximately $25,000. Founders Capital Management purchased a new stake in Cameco during the 4th quarter valued at $27,000. Strategic Advocates LLC purchased a new stake in Cameco during the 3rd quarter valued at $28,000. Finally, Armstrong Advisory Group Inc. lifted its position in Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the last quarter. 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.