Cameco (NYSE:CCJ) Shares Up 1.4% – What’s Next?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 1.4% on Thursday . The stock traded as high as $48.81 and last traded at $47.21. 2,176,123 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 4,510,784 shares. The stock had previously closed at $46.55.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Down 6.4 %

The business has a fifty day moving average price of $51.00 and a two-hundred day moving average price of $49.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 155.55 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 business had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, equities analysts expect that Cameco Co. will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCJ. Norges Bank acquired a new stake in Cameco during the fourth quarter worth about $188,595,000. FMR LLC grew its holdings in Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after acquiring an additional 1,811,876 shares during the period. CIBC Asset Management Inc grew its holdings in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after acquiring an additional 1,386,639 shares during the period. M&G PLC acquired a new stake in Cameco during the third quarter worth about $66,227,000. Finally, Driehaus Capital Management LLC grew its holdings in Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock worth $115,398,000 after acquiring an additional 1,225,966 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

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.