Cameco (NYSE:CCJ) Shares Up 3.8%

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was up 3.8% on Monday . The stock traded as high as $44.45 and last traded at $44.23. Approximately 784,823 shares were traded during trading, a decline of 82% from the average daily volume of 4,366,542 shares. The stock had previously closed at $42.61.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCJ. The Goldman Sachs Group raised their price objective on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Scotiabank cut their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Glj Research reiterated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.37.

Cameco Stock Performance

The company has a market cap of $18.54 billion, a P/E ratio of 110.95 and a beta of 0.92. The stock’s 50-day moving average price is $46.15 and its 200-day moving average price is $46.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 0.69.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. Equities analysts anticipate that Cameco Co. will post 1.06 EPS for the current year.

Hedge Funds Weigh In On Cameco

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its stake in Cameco by 235.3% in the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Cameco in the 1st quarter valued at approximately $26,000. Principal Securities Inc. bought a new stake in shares of Cameco during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC boosted its position in shares of Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 221 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.