Cameco (NYSE:CCJ) Stock Price Up 2.2% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 2.2% during mid-day trading on Wednesday . The company traded as high as $44.28 and last traded at $44.06. 809,442 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 4,073,831 shares. The stock had previously closed at $43.09.

Wall Street Analyst Weigh In

Several equities analysts have commented on CCJ shares. Glj Research increased their price target on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Finally, Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $73.64.

Cameco Stock Performance

The stock has a market cap of $19.33 billion, a PE ratio of 158.58 and a beta of 1.04. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $47.13 and a 200-day moving average of $49.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. On average, equities analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its stake in shares of Cameco by 2.1% in the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after buying an additional 191 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 226 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Cameco by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock worth $2,592,000 after purchasing an additional 238 shares during the period. Heritage Wealth Management Inc. increased its holdings in shares of Cameco by 0.8% in the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after purchasing an additional 250 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Cameco by 48.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 267 shares during the period. Institutional investors and hedge funds 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.