Shares of Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) traded up 1.1% during trading on Thursday . The company traded as high as $96.75 and last traded at $95.7830. 2,054,302 shares changed hands during trading, a decline of 44% from the average session volume of 3,665,134 shares. The stock had previously closed at $94.73.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $148.11.
Get Our Latest Stock Analysis on CCJ
Cameco Trading Up 0.3%
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. As a group, sell-side analysts forecast that Cameco Corporation will post 1.21 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Cameco by 6.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,647 shares of the basic materials company’s stock worth $677,000 after acquiring an additional 389 shares during the period. Contravisory Investment Management Inc. boosted its stake in Cameco by 2,229.3% in the second quarter. Contravisory Investment Management Inc. now owns 71,788 shares of the basic materials company’s stock valued at $7,312,000 after acquiring an additional 68,706 shares during the period. Vertrix Wealth Management LLC acquired a new position in Cameco in the second quarter valued at approximately $567,000. Chemistry Wealth Management LLC grew its holdings in shares of Cameco by 13.4% during the second quarter. Chemistry Wealth Management LLC now owns 3,402 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 402 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Cameco by 12.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 27,761 shares of the basic materials company’s stock valued at $2,828,000 after purchasing an additional 3,014 shares during the last quarter. 70.21% of the stock is currently 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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