Cameco (NYSE:CCJ) Trading 3.5% Higher - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shot up 3.5% during trading on Wednesday . The stock traded as high as $45.46 and last traded at $45.11. 1,279,319 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,621,297 shares. The stock had previously closed at $43.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Cameco from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $66.56.

Cameco Stock Up 1.3 %

The firm has a market capitalization of $19.17 billion, a price-to-earnings ratio of 157.27 and a beta of 0.94. The business has a 50 day simple moving average of $49.87 and a 200-day simple moving average of $49.91. 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 issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.26. The business had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, equities analysts expect that Cameco Co. will post 1.27 EPS for the current year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Norges Bank acquired a new stake in shares of Cameco during the 4th quarter worth about $188,595,000. FMR LLC increased its position in shares of Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after purchasing an additional 1,811,876 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company's stock worth $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. M&G PLC acquired a new stake in shares of Cameco during the 3rd quarter worth about $66,227,000. Finally, Driehaus Capital Management LLC increased its position in shares of Cameco by 120.2% during the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock worth $115,398,000 after purchasing an additional 1,225,966 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.