Cameco (NYSE:CCJ) Trading 1.9% Higher – Here’s Why

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded up 1.9% during mid-day trading on Friday . The stock traded as high as $73.50 and last traded at $73.02. 2,773,981 shares traded hands during trading, a decline of 39% from the average session volume of 4,520,784 shares. The stock had previously closed at $71.66.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, May 14th. Royal Bank Of Canada raised their target price on Cameco from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, June 18th. The Goldman Sachs Group raised their target price on Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $80.65.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. The stock has a 50 day moving average price of $59.91 and a two-hundred day moving average price of $50.98. The firm has a market capitalization of $31.79 billion, a price-to-earnings ratio of 182.55 and a beta of 1.03.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. As a group, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Manchester Capital Management LLC grew its stake in Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Hurley Capital LLC acquired a new position in Cameco during the 4th quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco during the 4th quarter worth $28,000. Dagco Inc. acquired a new position in Cameco during the 1st quarter worth $28,000. Finally, SVB Wealth LLC acquired a new position in Cameco during the 1st quarter worth $29,000. 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.