Cameco (NYSE:CCJ) Trading 2.2% Higher – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares rose 2.2% during mid-day trading on Thursday . The company traded as high as $57.34 and last traded at $57.03. Approximately 3,823,205 shares traded hands during trading, a decline of 13% from the average daily volume of 4,377,435 shares. The stock had previously closed at $55.78.

Analyst Ratings Changes

A number of analysts have weighed in on the company. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Bank of America raised their price objective on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. One equities 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, the company currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

The firm has a market capitalization of $25.25 billion, a PE ratio of 148.76 and a beta of 0.90. 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 fifty day moving average price of $44.42 and a 200-day moving average price of $47.66.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its 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). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter last year, the firm earned ($0.01) EPS. Cameco’s revenue for the quarter was up 24.1% on a year-over-year basis. Sell-side analysts forecast that Cameco Co. will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cameco by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Cameco by 2.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after purchasing an additional 288,400 shares in the last quarter. Capital World Investors raised its holdings in shares of Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after buying an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cameco by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after buying an additional 202,157 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after acquiring an additional 265,196 shares during the period. 70.21% of the stock is owned by hedge funds and other 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.