Cameco (NYSE:CCJ) Sees Strong Trading Volume

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually-strong trading volume on Monday . Approximately 2,114,237 shares were traded during mid-day trading, a decline of 51% from the previous session’s volume of 4,324,510 shares.The stock last traded at $46.40 and had previously closed at $44.40.

Analysts Set New Price Targets

Several brokerages have weighed in on CCJ. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group upped their target price on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research reissued a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $67.25.

Cameco Price Performance

The company has a 50-day moving average of $41.76 and a 200-day moving average of $46.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 113.85 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter in the prior year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, equities research analysts predict that Cameco Co. will post 0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC bought a new position in shares of Cameco in the 1st quarter worth about $26,000. Principal Securities Inc. acquired a new stake in shares of Cameco in the 4th quarter worth about $29,000. Lindbrook Capital LLC boosted its position in Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 221 shares during the period. Larson Financial Group LLC raised its position in shares of Cameco by 99.3% during the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after buying an additional 600 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Cameco in the 1st quarter worth approximately $87,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

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.