Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) traded up 1.8% on Monday . The company traded as high as $107.04 and last traded at $105.3460. 2,156,717 shares traded hands during trading, a decline of 42% from the average session volume of 3,738,127 shares. The stock had previously closed at $103.44.
Analyst Ratings Changes
A number of brokerages have recently commented on CCJ. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Barclays began coverage on Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price on the stock. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Cameco to $202.00 in a research note on Monday, March 9th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.62.
View Our Latest Stock Report on CCJ
Cameco Price Performance
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter last year, the firm posted $0.16 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Cameco Corporation will post 1.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cameco
Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in Cameco during the fourth quarter valued at $443,265,000. TD Asset Management Inc increased its holdings in shares of Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares during the last quarter. Marshall Wace LLP raised its position in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the period. Finally, Mizuho Markets Cayman LP purchased a new position in shares of Cameco in the 3rd quarter worth approximately $128,370,000. 70.21% of the stock is owned by 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.
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