Cameco (NYSE:CCJ) Trading Up 2.2% - Still a Buy?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price was up 2.2% on Wednesday . The company traded as high as $44.28 and last traded at $44.06. Approximately 809,442 shares traded hands during trading, a decline of 80% from the average daily volume of 4,073,831 shares. The stock had previously closed at $43.09.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of recent research reports. Glj Research increased their target price on Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They set a "buy" rating for the company. Finally, StockNews.com raised shares of Cameco from a "sell" rating to a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $73.64.

Remove Ads

Cameco Trading Down 0.5 %

The firm's fifty day moving average price is $47.03 and its 200-day moving average price is $50.10. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 159.34 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

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

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Cameco during the 4th quarter valued at $188,595,000. FMR LLC grew its stake in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock worth $115,398,000 after buying an additional 1,225,966 shares during the last quarter. Alliancebernstein L.P. increased its stake in Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the period. Finally, AGF Management Ltd. lifted its holdings in shares of Cameco by 54.2% during the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company's stock worth $174,433,000 after acquiring an additional 1,193,266 shares during the period. 70.21% of the stock is currently 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.