Cameco (NYSE:CCJ) Stock Price Up 2.6% - Here's Why

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares traded up 2.6% during trading on Friday . The stock traded as high as $43.01 and last traded at $42.89. 905,892 shares were traded during mid-day trading, a decline of 78% from the average session volume of 4,105,709 shares. The stock had previously closed at $41.81.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCJ. StockNews.com downgraded Cameco from a "hold" rating to a "sell" rating in a research note on Tuesday, March 11th. Stifel Canada upgraded Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They set a "buy" rating for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. Finally, Glj Research lifted their price target on Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $73.64.

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Cameco Price Performance

The business has a 50 day moving average price of $47.57 and a two-hundred day moving average price of $50.05. The stock has a market cap of $18.77 billion, a PE ratio of 153.72 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Research analysts expect that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Cameco during the fourth quarter worth $25,000. Hurley Capital LLC bought a new position in shares of Cameco during the fourth quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco during the fourth quarter valued at about $28,000. Pingora Partners LLC bought a new position in shares of Cameco during the third quarter valued at about $33,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Cameco during the fourth quarter valued at about $33,000. 70.21% of the stock is owned by institutional investors.

About Cameco

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.