Cameco (NYSE:CCJ) Shares Up 0.8% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price traded up 0.8% during mid-day trading on Tuesday . The company traded as high as $43.91 and last traded at $43.64. 1,347,240 shares were traded during trading, a decline of 71% from the average session volume of 4,607,341 shares. The stock had previously closed at $43.28.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

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 company’s 50-day simple moving average is $50.57 and its 200-day simple moving average is $49.86. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 155.89 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Research analysts forecast that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Cameco by 68.8% in the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 642 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Cameco by 8.3% in the 3rd quarter. Private Advisor Group LLC now owns 65,251 shares of the basic materials company’s stock valued at $3,117,000 after purchasing an additional 5,011 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Cameco by 22.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 21,497 shares of the basic materials company’s stock worth $1,027,000 after acquiring an additional 3,899 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Cameco during the third quarter worth approximately $2,957,000. Finally, PFG Investments LLC lifted its position in shares of Cameco by 21.4% during the 3rd quarter. PFG Investments LLC now owns 7,951 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 1,400 shares during the period. 70.21% of the stock is owned by institutional investors.

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.