Cameco (NYSE:CCJ) Stock Price Up 2.1% – Here’s Why

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were up 2.1% during mid-day trading on Tuesday . The stock traded as high as $108.28 and last traded at $107.8370. Approximately 2,847,917 shares were traded during trading, a decline of 35% from the average daily volume of 4,374,714 shares. The stock had previously closed at $105.57.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The company has a market capitalization of $46.97 billion, a price-to-earnings ratio of 111.17 and a beta of 0.98. The firm has a 50-day simple moving average of $116.87 and a two-hundred day simple moving average of $99.22.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently modified their holdings of the business. Financial Consulate Inc. purchased a new position in Cameco in the third quarter valued at $25,000. Nisa Investment Advisors LLC acquired a new stake in Cameco in the 4th quarter valued at about $25,000. Founders Capital Management purchased a new position in shares of Cameco in the 4th quarter valued at about $27,000. Strategic Advocates LLC purchased a new position in shares of Cameco in the 3rd quarter valued at about $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.