Cameco (NYSE:CCJ) Sees Strong Trading Volume

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually-high trading volume on Wednesday . Approximately 3,658,094 shares traded hands during trading, a decline of 15% from the previous session’s volume of 4,313,560 shares.The stock last traded at $39.69 and had previously closed at $37.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Glj Research reiterated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Bank of America upped their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The stock has a market cap of $17.72 billion, a PE ratio of 104.38 and a beta of 0.90. The company’s 50-day moving average price is $42.98 and its two-hundred day moving average price is $46.47.

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). The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. On average, equities research analysts forecast that Cameco Co. will post 0.96 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Heritage Wealth Management Inc. purchased a new position in Cameco during the 2nd quarter valued at about $402,000. Sanctuary Advisors LLC bought a new position in Cameco in the second quarter worth about $349,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Cameco in the second quarter worth about $202,000. Granite Bay Wealth Management LLC purchased a new position in shares of Cameco during the 2nd quarter worth approximately $273,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Cameco in the 2nd quarter worth approximately $542,000. 70.21% of the stock is owned by institutional investors.

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.