Cameco (NYSE:CCJ) Trading 1% Higher – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were up 1% on Tuesday . The stock traded as high as $114.05 and last traded at $111.4620. Approximately 2,548,523 shares were traded during trading, a decline of 43% from the average daily volume of 4,439,447 shares. The stock had previously closed at $110.31.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of research reports. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Glj Research reissued a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average target price of $150.40.

Cameco Trading Up 1.0%

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 business has a fifty day simple moving average of $116.75 and a 200 day simple moving average of $98.16. The stock has a market cap of $48.55 billion, a price-to-earnings ratio of 114.91 and a beta of 0.98.

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

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cameco in the fourth quarter valued at approximately $443,265,000. TD Asset Management Inc boosted its position in Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares during the period. Marshall Wace LLP grew its stake in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after acquiring an additional 1,644,061 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.