Cameco (NYSE:CCJ) Trading 1.7% Higher – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) traded up 1.7% during mid-day trading on Friday . The company traded as high as $54.87 and last traded at $54.78. 1,080,135 shares changed hands during trading, a decline of 76% from the average session volume of 4,410,477 shares. The stock had previously closed at $53.85.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Glj Research reaffirmed a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. 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 raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Performance

The stock’s 50 day moving average price is $45.96 and its 200 day moving average price is $47.89. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The firm has a market cap of $23.41 billion, a PE ratio of 137.92 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. As a group, equities analysts forecast that Cameco Co. will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Cameco by 1.3% during the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $593,967,000 after acquiring an additional 288,400 shares in the last quarter. Capital World Investors grew its holdings in Cameco by 1.6% during the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after acquiring an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after acquiring an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after acquiring an additional 265,196 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.