Cameco (NYSE:CCJ) Sets New 1-Year High – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $83.02 and last traded at $78.48, with a volume of 2063172 shares. The stock had previously closed at $78.63.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of research reports. Royal Bank Of Canada raised their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday. Scotiabank reissued an “outperform” rating on shares of Cameco in a report on Tuesday, July 8th. Finally, TD Securities reissued a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Three analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to MarketBeat, Cameco currently has a consensus rating of “Buy” and an average price target of $83.32.

Cameco Price Performance

The firm’s fifty day moving average price is $75.22 and its 200 day moving average price is $57.81. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The stock has a market cap of $33.76 billion, a PE ratio of 89.13 and a beta of 1.06.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Large investors have recently bought and sold shares of the business. Trust Co. of Vermont increased its position in Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Hilltop National Bank bought a new stake in Cameco in the second quarter worth $30,000. Atticus Wealth Management LLC bought a new stake in Cameco in the second quarter worth $34,000. VSM Wealth Advisory LLC bought a new stake in Cameco in the second quarter worth $35,000. Finally, Creative Financial Designs Inc. ADV increased its position in Cameco by 936.2% in the second quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 440 shares during the last quarter. 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.