Cameco (NYSE:CCJ) Shares Up 5.6% – Here’s Why

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were up 5.6% during mid-day trading on Tuesday . The company traded as high as $109.23 and last traded at $108.5740. Approximately 3,863,045 shares changed hands during trading, a decline of 9% from the average daily volume of 4,265,241 shares. The stock had previously closed at $102.84.

Analyst Ratings Changes

A number of research firms have issued reports on CCJ. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Royal Bank Of Canada upped their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Stock Performance

The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $47.29 billion, a price-to-earnings ratio of 111.93 and a beta of 0.98. The stock has a fifty day moving average price of $116.13 and a 200-day moving average price of $100.20.

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

Institutional Trading of Cameco

Institutional investors have recently bought and sold shares of the business. Bison Wealth LLC increased its stake in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund bought a new stake in shares of Cameco in the 2nd quarter valued at $14,252,000. 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.