Cameco (NYSE:CCJ) Shares Up 1.7% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price shot up 1.7% on Friday . The company traded as high as $54.87 and last traded at $54.78. 1,080,135 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 4,410,477 shares. The stock had previously closed at $53.85.

Analysts Set New Price Targets

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

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The firm has a market cap of $23.47 billion, a P/E ratio of 140.46 and a beta of 0.90. The stock’s 50-day moving average is $45.69 and its 200 day moving average is $47.85.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data 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 business had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. Cameco’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, research analysts predict that Cameco Co. will post 0.83 earnings per share for the current year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Cameco by 10.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,655,676 shares of the basic materials company’s stock worth $71,722,000 after buying an additional 160,113 shares in the last quarter. Wealthstar Advisors LLC grew its stake in shares of Cameco by 21.2% during the 1st quarter. Wealthstar Advisors LLC now owns 8,656 shares of the basic materials company’s stock worth $375,000 after acquiring an additional 1,516 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cameco by 43.7% in the first quarter. Principal Financial Group Inc. now owns 22,700 shares of the basic materials company’s stock valued at $984,000 after purchasing an additional 6,900 shares during the last quarter. Fortis Group Advisors LLC bought a new stake in shares of Cameco in the first quarter worth $480,000. Finally, Van ECK Associates Corp grew its position in Cameco by 26.2% in the first quarter. Van ECK Associates Corp now owns 789,714 shares of the basic materials company’s stock valued at $34,207,000 after purchasing an additional 164,095 shares in the last quarter. 70.21% of the stock is 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.