Cameco (NYSE:CCJ) Trading 3.3% Higher – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $72.04 and last traded at $72.01. 1,862,994 shares traded hands during trading, a decline of 58% from the average session volume of 4,416,032 shares. The stock had previously closed at $69.72.

Analyst Ratings Changes

A number of brokerages have issued reports on CCJ. Royal Bank Of Canada increased their price objective on shares of Cameco from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus began coverage on shares of Cameco in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. Desjardins began coverage on shares of Cameco in a research note on Friday, April 4th. They set a “buy” rating on the stock. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $77.30.

Cameco Trading Up 3.5%

The business’s fifty day moving average is $54.29 and its 200-day moving average is $49.84. The firm has a market cap of $31.40 billion, a P/E ratio of 180.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. Analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CCJ. Manchester Capital Management LLC raised its holdings in Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Hurley Capital LLC bought a new position in Cameco during the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Cameco during the 4th quarter worth approximately $28,000. Dagco Inc. bought a new position in Cameco during the 1st quarter worth approximately $28,000. Finally, SVB Wealth LLC bought a new position in Cameco during the 1st quarter worth approximately $29,000. Institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.