Cameco (NYSE:CCJ) Trading Up 3% – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were up 3% on Monday . The company traded as high as $121.54 and last traded at $120.2180. Approximately 3,125,794 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 3,872,890 shares. The stock had previously closed at $116.75.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Glj Research restated a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Weiss Ratings cut shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, William Blair assumed coverage on shares of Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and an average target price of $153.13.

Cameco Stock Performance

The stock has a fifty day simple moving average of $114.62 and a 200-day simple moving average of $106.90. The stock has a market cap of $50.33 billion, a P/E ratio of 107.00, a PEG ratio of 1.97 and a beta of 1.04. 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 released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, equities analysts expect that Cameco Corporation will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC bought a new position in shares of Cameco in the 4th quarter valued at about $25,000. Founders Capital Management bought a new position in shares of Cameco in the 4th quarter valued at about $27,000. Strategic Advocates LLC bought a new position in shares of Cameco in the 3rd quarter valued at about $28,000. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco in the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

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.