Cameco (NYSE:CCJ) Shares Up 6.4% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price shot up 6.4% during trading on Monday . The company traded as high as $126.13 and last traded at $125.9240. 4,305,738 shares were traded during trading, a decline of 5% from the average session volume of 4,529,154 shares. The stock had previously closed at $118.40.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, UBS Group initiated coverage on Cameco in a research report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Stock Up 2.0%

The business’s fifty day moving average is $113.61 and its two-hundred day moving average is $95.82. The stock has a market cap of $52.31 billion, a price-to-earnings ratio of 123.81 and a beta of 0.98. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The business 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%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CCJ. Norges Bank acquired a new stake in Cameco in the fourth quarter valued at $443,265,000. TD Asset Management Inc boosted its holdings in Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after purchasing an additional 2,489,207 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Marshall Wace LLP raised its holdings in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares in the last quarter. Hedge funds and other institutional investors 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.