Cameco (NYSE:CCJ) Trading 0.2% Higher – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price rose 0.2% during mid-day trading on Thursday . The company traded as high as $46.25 and last traded at $44.81. Approximately 1,385,029 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,634,275 shares. The stock had previously closed at $44.72.

Wall Street Analysts Forecast Growth

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

Cameco Price Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $18.93 billion, a price-to-earnings ratio of 155.32 and a beta of 0.94. The company’s 50 day moving average is $50.23 and its 200-day moving average is $49.85.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $845.54 million during 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%. Equities research analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cameco during the 4th quarter worth approximately $188,595,000. FMR LLC lifted its position 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 purchasing an additional 1,811,876 shares during the period. CIBC Asset Management Inc grew its stake 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 buying an additional 1,386,639 shares in the last quarter. M&G PLC bought a new position in Cameco in the 3rd quarter valued at about $66,227,000. Finally, Driehaus Capital Management LLC raised its position in shares of Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock valued at $115,398,000 after buying an additional 1,225,966 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

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.