Cameco (NYSE:CCJ) Trading 5.4% Higher - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares were up 5.4% during trading on Thursday . The company traded as high as $54.08 and last traded at $53.96. Approximately 1,927,413 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,396,245 shares. The stock had previously closed at $51.21.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCJ shares. Cantor Fitzgerald upgraded Cameco from a "neutral" rating to an "overweight" rating in a report on Wednesday, July 31st. Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a "strong-buy" rating in a research note on Tuesday, September 3rd. Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Glj Research restated a "buy" rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $66.56.

Cameco Stock Up 4.6 %

The company has a market cap of $23.31 billion, a PE ratio of 123.74 and a beta of 0.89. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The company's fifty day moving average is $47.77 and its 200-day moving average is $48.11.

Institutional Investors Weigh In On Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC purchased a new stake in Cameco during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock worth $27,000 after purchasing an additional 238 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company's stock worth $46,000 after purchasing an additional 550 shares during the period. Larson Financial Group LLC lifted its position in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 642 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

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.

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