Cameco (NYSE:CCJ) Trading 3.3% Higher – Still a Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 3.3% during trading on Tuesday . The stock traded as high as $72.04 and last traded at $72.01. Approximately 1,862,994 shares changed hands during trading, a decline of 58% from the average daily volume of 4,416,032 shares. The stock had previously closed at $69.72.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. Wall Street Zen raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. UBS Group reaffirmed a “buy” rating on shares of Cameco in a research report on Tuesday, June 10th. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Desjardins began coverage on shares of Cameco in a research report on Friday, April 4th. They set a “buy” rating for the company. Finally, Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $77.30.

Cameco Stock Up 3.5%

The stock has a market capitalization of $31.40 billion, a PE ratio of 180.35 and a beta of 0.97. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $54.29 and its 200-day simple moving average is $49.84.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Country Club Bank grew its holdings in Cameco by 0.5% during the 1st quarter. Country Club Bank now owns 43,553 shares of the basic materials company’s stock valued at $1,822,000 after buying an additional 224 shares in the last quarter. Larson Financial Group LLC grew its holdings in Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock valued at $43,000 after buying an additional 226 shares in the last quarter. Two Sigma Investments LP grew its holdings in Cameco by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock valued at $2,592,000 after buying an additional 238 shares in the last quarter. Heritage Wealth Management Inc. grew its holdings in Cameco by 0.8% during the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after buying an additional 250 shares in the last quarter. Finally, Sunpointe LLC grew its holdings in Cameco by 1.8% during the 1st quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company’s stock valued at $670,000 after buying an additional 288 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

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.