Cameco (NYSE:CCJ) Stock Price Up 0.8% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares rose 0.8% during trading on Monday . The stock traded as high as $51.80 and last traded at $51.74. Approximately 497,068 shares were traded during trading, a decline of 89% from the average daily volume of 4,333,386 shares. The stock had previously closed at $51.35.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Glj Research reissued a “buy” rating and set a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Scotiabank dropped their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Bank of America upped their price objective on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Down 0.1 %

The business’s 50 day moving average is $42.77 and its 200 day moving average is $47.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 132.67 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS. Equities analysts expect that Cameco Co. will post 0.83 earnings per share for the current year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Cameco during the first quarter worth $26,000. Larson Financial Group LLC increased its holdings in shares of Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after buying an additional 600 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Cameco during the first quarter worth $87,000. Finally, BNP Paribas acquired a new position in shares of Cameco during the first quarter worth $93,000. 70.21% of the stock is currently 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.