Cameco (NYSE:CCJ) Trading 1.4% Higher – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) was up 1.4% during mid-day trading on Friday . The stock traded as high as $50.69 and last traded at $50.64. Approximately 1,192,518 shares were traded during trading, a decline of 73% from the average daily volume of 4,348,074 shares. The stock had previously closed at $49.96.

Wall Street Analyst Weigh In

Several analysts have recently commented on CCJ shares. Scotiabank decreased their target price on 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 Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America boosted their price objective on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Glj Research reiterated a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.56.

Cameco Trading Up 3.8 %

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 firm has a market cap of $22.56 billion, a price-to-earnings ratio of 132.92 and a beta of 0.90. The company’s 50-day moving average is $41.93 and its 200-day moving average is $47.01.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 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 for the quarter, compared to the consensus estimate of $756.00 million. During the same period last year, the company earned ($0.01) earnings per share. Cameco’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, research analysts predict that Cameco Co. will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in CCJ. Murphy Pohlad Asset Management LLC increased its position in Cameco by 0.3% in the first quarter. Murphy Pohlad Asset Management LLC now owns 75,720 shares of the basic materials company’s stock worth $3,280,000 after purchasing an additional 200 shares during the period. Silvia Mccoll Wealth Management LLC raised its stake in shares of Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after buying an additional 210 shares during the last quarter. LRI Investments LLC lifted its holdings in Cameco by 39.0% in the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after buying an additional 234 shares during the period. Highview Capital Management LLC DE boosted its stake in Cameco by 4.4% in the first quarter. Highview Capital Management LLC DE now owns 5,946 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 250 shares during the last quarter. Finally, S.A. Mason LLC grew its holdings in Cameco by 8.1% during the 2nd quarter. S.A. Mason LLC now owns 3,449 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 258 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.