Cameco (NYSE:CCJ) Stock Price Up 2.2% – Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 2.2% during mid-day trading on Monday . The stock traded as high as $111.98 and last traded at $110.26. Approximately 3,501,300 shares traded hands during trading, a decline of 22% from the average daily volume of 4,477,145 shares. The stock had previously closed at $107.92.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCJ. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Royal Bank Of Canada increased their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce upped their price target on shares of Cameco to $202.00 in a research report on Monday, March 9th. Finally, Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Trading Up 2.2%

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $116.55 and its two-hundred day moving average price is $97.94. The firm has a market cap of $48.02 billion, a PE ratio of 113.67 and a beta of 0.98.

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

Institutional Trading of Cameco

Institutional investors have recently modified their holdings of the business. Bison Wealth LLC raised its position in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after acquiring an additional 2,975 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after purchasing an additional 64,512 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in shares of Cameco in the 2nd quarter valued at about $406,000. 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.