Cameco (NYSE:CCJ) Trading 6.4% Higher – Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded up 6.4% during mid-day trading on Monday . The stock traded as high as $126.13 and last traded at $125.9240. 4,305,738 shares changed hands during trading, a decline of 5% from the average session volume of 4,529,154 shares. The stock had previously closed at $118.40.

Analysts Set New Price Targets

CCJ has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. National Bank Financial restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, UBS Group initiated coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Stock Performance

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $111.91 and a two-hundred day simple moving average of $95.00. The stock has a market capitalization of $54.84 billion, a P/E ratio of 129.82 and a beta of 0.98.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bison Wealth LLC grew its holdings in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC raised its stake in Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Cameco during the 2nd quarter worth approximately $267,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About Cameco

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.