Cameco (NYSE:CCJ) Trading 1.6% Higher – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 1.6% on Monday . The stock traded as high as $54.65 and last traded at $54.63. 1,078,617 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 4,406,141 shares. The stock had previously closed at $53.79.

Analysts Set New Price Targets

Several analysts have weighed in on CCJ shares. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Glj Research restated a “buy” rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The firm has a 50-day moving average price of $46.51 and a 200 day moving average price of $47.95. The company has a market cap of $23.84 billion, a price-to-earnings ratio of 140.46 and a beta of 0.90.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of Cameco during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 550 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Cameco by 99.3% during the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after buying an additional 642 shares during the last quarter. 70.21% of the stock is currently 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.