Cameco (NYSE:CCJ) Stock Price Up 1% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 1% during mid-day trading on Tuesday . The company traded as high as $114.05 and last traded at $111.4620. Approximately 2,548,523 shares traded hands during trading, a decline of 43% from the average daily volume of 4,439,447 shares. The stock had previously closed at $110.31.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a report on Monday, March 9th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.40.

Cameco Price Performance

The company has a market cap of $48.55 billion, a price-to-earnings ratio of 114.91 and a beta of 0.98. 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 company’s 50 day moving average price is $116.75 and its 200 day moving average price is $98.16.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors boosted its position in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after purchasing an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after purchasing an additional 85,762 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Cameco by 41.4% in the 2nd 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 in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Cameco by 15.6% in the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.