Cameco (NYSE:CCJ) Trading 0.8% Higher – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 0.8% during trading on Monday . The company traded as high as $51.80 and last traded at $51.74. Approximately 497,068 shares traded hands during trading, a decline of 89% from the average daily volume of 4,333,386 shares. The stock had previously closed at $51.35.

Analysts Set New Price Targets

Several research firms recently commented on CCJ. Bank of America increased their price objective on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reaffirmed a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 7.9 %

The business has a fifty day moving average of $43.34 and a 200 day moving average of $47.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 139.49 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, equities analysts predict that Cameco Co. will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

Several large investors have recently bought and sold shares of CCJ. Massachusetts Financial Services Co. MA purchased a new position in shares of Cameco during the second quarter worth approximately $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Cameco during the first quarter worth about $31,131,000. King Luther Capital Management Corp purchased a new position in shares of Cameco during the second quarter worth about $32,740,000. The Manufacturers Life Insurance Company increased its position in Cameco by 28.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock valued at $97,653,000 after acquiring an additional 437,921 shares during the period. Finally, Fred Alger Management LLC raised its stake in Cameco by 106.2% during the 2nd quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company’s stock valued at $41,386,000 after acquiring an additional 433,234 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.