Cameco (NYSE:CCJ) Shares Up 3.2% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 3.2% on Monday . The stock traded as high as $45.88 and last traded at $45.96. Approximately 703,080 shares traded hands during trading, a decline of 83% from the average daily volume of 4,083,351 shares. The stock had previously closed at $44.53.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Glj Research raised their target price on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. Finally, Stifel Canada upgraded Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Trading Up 2.2 %

The stock has a market cap of $19.81 billion, a P/E ratio of 162.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock’s fifty day moving average is $47.03 and its 200 day moving average is $50.18.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC raised its holdings in Cameco by 8.7% in the 4th 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cameco by 1.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock worth $865,729,000 after buying an additional 190,337 shares during the period. Vanguard Group Inc. lifted its position in shares of Cameco by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after buying an additional 270,102 shares in the last quarter. Alliancebernstein L.P. grew its stake in Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the period. Finally, Norges Bank purchased a new stake in Cameco in the 4th quarter worth $188,595,000. Institutional investors and hedge funds 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.