Cameco (NYSE:CCJ) Shares Up 1.8% – Time to Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 1.8% during mid-day trading on Tuesday . The stock traded as high as $122.25 and last traded at $120.9160. Approximately 3,427,501 shares were traded during trading, a decline of 26% from the average daily volume of 4,656,782 shares. The stock had previously closed at $118.75.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. National Bank Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada raised their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Cameco Stock Up 1.8%

The company has a market cap of $52.66 billion, a P/E ratio of 124.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The business’s 50 day moving average price is $109.36 and its 200-day moving average price is $93.81.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.36 EPS. On average, analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Institutional investors have recently modified their holdings of the stock. Abbington Investment Group bought a new stake in shares of Cameco during the 3rd quarter valued at $6,506,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cameco by 79.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock worth $20,964,000 after buying an additional 110,629 shares during the period. Nwam LLC increased its stake in shares of Cameco by 11.7% in the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after acquiring an additional 8,519 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Cameco by 165.1% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock valued at $12,593,000 after acquiring an additional 105,523 shares during the period. Finally, NWF Advisory Services Inc. acquired a new position in Cameco during the third quarter valued at approximately $1,996,000. 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.