Cameco (NYSE:CCJ) Stock Price Up 1.1% – Time to Buy?
by Renee Jackson · The Cerbat GemCameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) shares traded up 1.1% on Thursday . The stock traded as high as $122.75 and last traded at $120.4440. 3,349,995 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 4,020,912 shares. The stock had previously closed at $119.11.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Glj Research reissued a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $150.40.
View Our Latest Stock Analysis on Cameco
Cameco Trading Up 1.1%
The business’s fifty day simple moving average is $113.78 and its 200 day simple moving average is $102.59. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The stock has a market cap of $52.46 billion, a P/E ratio of 124.17 and a beta of 1.02.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Terra Nova Asset Management LLC lifted its position in Cameco by 3.0% during the 1st quarter. Terra Nova Asset Management LLC now owns 37,598 shares of the basic materials company’s stock valued at $4,084,000 after purchasing an additional 1,079 shares during the period. Connective Portfolio Management LLC acquired a new position in Cameco during the 1st quarter valued at about $1,008,000. McAlvany Wealth Management LLC acquired a new position in Cameco during the 4th quarter valued at about $812,000. Purpose Unlimited Inc. acquired a new position in Cameco during the 4th quarter valued at about $6,436,000. Finally, Rockefeller Capital Management L.P. lifted its position in Cameco by 6.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 154,926 shares of the basic materials company’s stock valued at $14,174,000 after purchasing an additional 9,826 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.
About Cameco
Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.
The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.