Cameco (NYSE:CCJ) Trading Up 0% – Still a Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) rose 0% during mid-day trading on Friday . The company traded as high as $50.71 and last traded at $50.50. Approximately 520,608 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,342,160 shares. The stock had previously closed at $50.49.

Analyst Ratings Changes

Several brokerages have recently commented on CCJ. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Bank of America lifted their price target on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. 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, the stock has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Performance

The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The firm has a market cap of $22.35 billion, a P/E ratio of 131.67 and a beta of 0.90. The business has a fifty day simple moving average of $42.77 and a 200-day simple moving average of $47.31.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. On average, sell-side analysts predict that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Cameco in the 1st quarter worth $26,000. Larson Financial Group LLC raised its stake in shares of Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Cameco during the first quarter valued at $87,000. Finally, BNP Paribas purchased a new stake in shares of Cameco during the first quarter valued at $93,000. 70.21% of the stock is owned by institutional investors.

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.