Cameco (NYSE:CCJ) Reaches New 12-Month High – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $90.90 and last traded at $91.46, with a volume of 1229221 shares traded. The stock had previously closed at $86.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Tuesday, July 8th. TD Securities reiterated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. CLSA assumed coverage on Cameco in a report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 price objective for the company. National Bankshares reiterated an “outperform” rating on shares of Cameco in a report on Friday, August 22nd. Finally, President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Cameco has an average rating of “Buy” and a consensus price target of $89.55.

Cameco Trading Down 0.1%

The company has a market cap of $37.71 billion, a PE ratio of 99.55 and a beta of 0.99. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $79.67 and a 200 day moving average price of $65.81.

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, beating analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analysts’ expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm’s revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CCJ. Norges Bank purchased a new position in shares of Cameco in the 2nd quarter valued at approximately $341,736,000. Alliancebernstein L.P. raised its stake in Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after buying an additional 3,959,837 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Cameco by 41.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Cameco by 215.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock valued at $83,636,000 after buying an additional 1,387,797 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in Cameco during the first quarter valued at $55,513,000. 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.