Cameco (NYSE:CCJ) Trading Up 3.5% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) traded up 3.5% on Wednesday . The stock traded as high as $45.46 and last traded at $45.11. 1,279,319 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,621,297 shares. The stock had previously closed at $43.59.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

The business has a 50 day simple moving average of $50.37 and a 200-day simple moving average of $49.89. The company has a market capitalization of $19.55 billion, a P/E ratio of 160.27 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Dantai Capital Ltd grew its position in Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after buying an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC acquired a new position in shares of Cameco in the 4th quarter worth $895,000. Whalen Wealth Management Inc. acquired a new stake in shares of Cameco during the fourth quarter worth $445,000. iA Global Asset Management Inc. purchased a new stake in shares of Cameco during the third quarter valued at $5,305,000. Finally, Telemark Asset Management LLC boosted its position in shares of Cameco by 8.3% in the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after purchasing an additional 100,000 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.