Cameco (NYSE:CCJ) Trading Up 4.2% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were up 4.2% on Thursday . The company traded as high as $99.65 and last traded at $98.9740. Approximately 4,544,381 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 3,780,582 shares. The stock had previously closed at $95.03.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CCJ shares. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Royal Bank Of Canada upped their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce upped their price target on Cameco to $202.00 in a report on Monday, March 9th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Trading Up 2.0%

The business has a fifty day simple moving average of $113.12 and a 200 day simple moving average of $109.09. The stock has a market cap of $43.96 billion, a price-to-earnings ratio of 93.47, a PEG ratio of 1.68 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 announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating 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 firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Cameco Corporation will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sterling Capital Management LLC purchased a new position in shares of Cameco in the 1st quarter worth $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the 4th quarter worth $25,000. Brown Lisle Cummings Inc. raised its position in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after buying an additional 288 shares during the period. Founders Capital Management purchased a new position in shares of Cameco in the 4th quarter worth $27,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Cameco in the 4th quarter worth $28,000. Hedge funds and other 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.