Cameco (NYSE:CCJ) Shares Up 1.6% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 1.6% during mid-day trading on Monday . The stock traded as high as $54.65 and last traded at $54.63. 1,078,617 shares were traded during trading, a decline of 76% from the average session volume of 4,406,141 shares. The stock had previously closed at $53.79.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCJ. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, Scotiabank lowered their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Performance

The company’s fifty day moving average price is $45.96 and its 200 day moving average price is $47.88. The company has a market cap of $23.96 billion, a PE ratio of 140.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, equities research analysts predict that Cameco Co. will post 0.83 earnings per share for the current year.

Institutional Trading of Cameco

Large investors have recently added to or reduced their stakes in the stock. Moody Lynn & Lieberson LLC purchased a new stake in Cameco during the third quarter worth about $1,680,000. Tidal Investments LLC increased its holdings in Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares during the last quarter. LRI Investments LLC purchased a new stake in Cameco during the first quarter worth about $30,000. Susquehanna Fundamental Investments LLC purchased a new stake in Cameco during the first quarter worth about $295,000. Finally, Moss Adams Wealth Advisors LLC purchased a new stake in Cameco during the third quarter worth about $441,000. Hedge funds and other institutional investors 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.