Cameco (NYSE:CCJ) Trading Up 3.5% – Time to Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 3.5% during mid-day trading on Tuesday . The company traded as high as $108.96 and last traded at $108.41. Approximately 2,887,368 shares changed hands during trading, a decline of 24% from the average daily volume of 3,796,963 shares. The stock had previously closed at $104.75.

Analyst Ratings Changes

A number of analysts have issued reports on CCJ shares. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Barclays started coverage on shares of Cameco in a research note on Thursday. They set an “equal weight” rating and a $108.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Weiss Ratings lowered shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Cameco Stock Performance

The firm has a market capitalization of $47.22 billion, a price-to-earnings ratio of 100.38, a P/E/G ratio of 1.77 and a beta of 1.04. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $112.99 and a 200 day moving average price of $107.28.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vestor Capital LLC acquired a new position in Cameco in the first quarter valued at approximately $42,000. BankChampaign National Association acquired a new position in Cameco in the first quarter valued at approximately $530,000. Groupe la Francaise boosted its holdings in Cameco by 688.9% in the first quarter. Groupe la Francaise now owns 20,235 shares of the basic materials company’s stock valued at $2,197,000 after purchasing an additional 17,670 shares in the last quarter. Western Wealth Management LLC acquired a new position in Cameco in the first quarter valued at approximately $39,000. Finally, Tanaka Capital Management Inc. boosted its holdings in Cameco by 31.6% in the first quarter. Tanaka Capital Management Inc. now owns 21,575 shares of the basic materials company’s stock valued at $2,343,000 after purchasing an additional 5,185 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.