Cameco (NYSE:CCJ) Shares Up 1.8% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 1.8% during mid-day trading on Monday . The stock traded as high as $107.04 and last traded at $105.3460. Approximately 2,156,717 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 3,738,127 shares. The stock had previously closed at $103.44.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CCJ shares. Royal Bank Of Canada boosted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Canadian Imperial Bank of Commerce lifted their price target on Cameco to $202.00 in a report on Monday, March 9th. Barclays began coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price for the company. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Price Performance

The firm has a 50 day moving average price of $113.70 and a two-hundred day moving average price of $108.65. The company has a market cap of $45.88 billion, a P/E ratio of 97.54, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter last year, the company earned $0.16 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of large investors have recently made changes to their positions in CCJ. Allianz Asset Management GmbH grew its stake in Cameco by 278.3% in the third quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock worth $12,208,000 after purchasing an additional 106,987 shares during the period. Legal & General Group Plc boosted its holdings in shares of Cameco by 4.6% during the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after buying an additional 108,841 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new stake in shares of Cameco in the 4th quarter worth about $1,974,000. Caprock Group LLC bought a new position in shares of Cameco in the 3rd quarter worth about $1,066,000. Finally, Intech Investment Management LLC increased its stake in shares of Cameco by 3.8% in the 3rd quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock worth $42,031,000 after acquiring an additional 18,261 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

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.