Cameco (NYSE:CCJ) Trading Up 2.2% – Should You Buy?

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

Analyst Ratings Changes

A number of analysts have recently issued reports on CCJ shares. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Royal Bank of Canada restated an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Glj Research upped their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus began coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $73.64.

Cameco Stock Up 1.7 %

The company’s fifty day moving average price is $47.40 and its 200-day moving average price is $50.07. The stock has a market cap of $19.08 billion, a P/E ratio of 156.66 and a beta of 1.04. 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) (TSE:CCO) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Equities analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCJ. Old West Investment Management LLC increased its position in Cameco by 10.4% during the 3rd quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock valued at $13,472,000 after purchasing an additional 26,584 shares during the period. Empowered Funds LLC purchased a new position in Cameco during the 3rd quarter valued at about $768,000. Swiss National Bank increased its position in Cameco by 0.9% during the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after purchasing an additional 11,600 shares during the period. Prospera Financial Services Inc raised its stake in shares of Cameco by 2.5% during the 3rd quarter. Prospera Financial Services Inc now owns 50,086 shares of the basic materials company’s stock worth $2,392,000 after acquiring an additional 1,205 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co lifted its position in Cameco by 41.9% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 224,045 shares of the basic materials company’s stock valued at $10,700,000 after acquiring an additional 66,144 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.