Cameco (NYSE:CCJ) Stock Price Up 2.6% – Should You Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 2.6% during mid-day trading on Friday . The company traded as high as $43.01 and last traded at $42.89. 905,892 shares changed hands during trading, a decline of 78% from the average session volume of 4,105,709 shares. The stock had previously closed at $41.81.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Glj Research raised their price objective on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $73.64.

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 business’s 50-day simple moving average is $48.01 and its two-hundred day simple moving average is $49.91. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 151.23 and a beta of 1.04.

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

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA grew its position in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after buying an additional 191 shares during the period. Larson Financial Group LLC increased its stake in Cameco by 37.4% in the fourth quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 226 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock valued at $2,592,000 after purchasing an additional 238 shares during the period. Heritage Wealth Management Inc. boosted its position in shares of Cameco by 0.8% during the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock worth $1,587,000 after purchasing an additional 250 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Cameco by 48.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

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.