Cameco (NYSE:CCJ) Trading 1.9% Higher – Should You Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded up 1.9% during mid-day trading on Friday . The company traded as high as $113.80 and last traded at $112.7530. 2,969,868 shares were traded during mid-day trading, a decline of 21% from the average session volume of 3,764,989 shares. The stock had previously closed at $110.63.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce raised their price target on Cameco to $202.00 in a research note on Monday, March 9th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. William Blair initiated coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Finally, Glj Research reiterated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.62.

Cameco Trading Up 1.9%

The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $113.00 and a 200 day simple moving average of $107.66. The firm has a market capitalization of $49.11 billion, a P/E ratio of 104.40, a PEG ratio of 1.90 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. As a group, research analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of CCJ. Nisa Investment Advisors LLC bought a new stake in Cameco during the fourth quarter valued at about $25,000. Founders Capital Management bought a new stake in Cameco during the fourth quarter valued at about $27,000. Strategic Advocates LLC bought a new stake in Cameco during the third quarter valued at about $28,000. Mcguire Capital Advisors Inc. bought a new stake in Cameco during the fourth quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares during the period. 70.21% of the stock is owned by institutional investors.

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.