Cameco (NYSE:CCJ) Shares Up 1.2%

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares shot up 1.2% during mid-day trading on Tuesday . The company traded as high as $47.40 and last traded at $46.55. 1,697,250 shares were traded during mid-day trading, a decline of 61% from the average session volume of 4,344,699 shares. The stock had previously closed at $46.02.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Bank of America increased their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Scotiabank reduced their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Glj Research reaffirmed a “buy” rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $67.25.

Cameco Stock Performance

The company has a fifty day moving average of $41.64 and a 200 day moving average of $46.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The stock has a market cap of $20.27 billion, a P/E ratio of 119.36 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Cameco’s revenue was up 24.1% on a year-over-year basis. On average, equities analysts predict that Cameco Co. will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Cameco by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after purchasing an additional 200,871 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cameco by 2.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after buying an additional 288,400 shares in the last quarter. Capital World Investors boosted its holdings in shares of Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after buying an additional 215,741 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Cameco by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after acquiring an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after purchasing an additional 265,196 shares in the last quarter. Institutional investors and hedge funds 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.