Cameco (NYSE:CCJ) Shares Up 4.5% – Still a Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) shot up 4.5% on Tuesday . The company traded as high as $88.86 and last traded at $88.6820. Approximately 4,944,888 shares traded hands during trading, an increase of 33% from the average daily volume of 3,717,072 shares. The stock had previously closed at $84.85.

Analyst Ratings Changes

Several brokerages have commented on CCJ. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. William Blair started coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.18.

Cameco Price Performance

The company has a market cap of $39.00 billion, a price-to-earnings ratio of 83.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. 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 company has a fifty day simple moving average of $102.06 and a two-hundred day simple moving average of $110.73.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities research analysts anticipate that Cameco Corporation will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC increased its position in Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the last quarter. Legacy Bridge LLC boosted its holdings in shares of Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 107 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after buying an additional 108 shares during the period. Finally, S.A. Mason LLC increased its holdings in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after buying an additional 111 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About Cameco

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.