Cameco (NYSE:CCJ) Shares Up 6.1% on Analyst Upgrade

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 6.1% on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock to $202.00. The stock traded as high as $116.41 and last traded at $116.3470. Approximately 3,266,158 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 4,457,648 shares. The stock had previously closed at $109.68.

Several other analysts also recently weighed in on the company. Glj Research restated a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Royal Bank Of Canada raised their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, UBS Group initiated coverage on shares of Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and an average price target of $150.40.

Institutional Investors Weigh In On Cameco

Institutional investors have recently bought and sold shares of the company. Financial Consulate Inc. purchased a new stake in shares of Cameco during the 3rd quarter valued at $25,000. Nisa Investment Advisors LLC purchased a new position in Cameco during the 4th quarter worth $25,000. Founders Capital Management purchased a new position in Cameco during the 4th quarter worth $27,000. Strategic Advocates LLC acquired a new position in Cameco during the 3rd quarter valued at about $28,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in Cameco during the 4th quarter valued at about $28,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

The business has a 50 day simple moving average of $114.84 and a 200 day simple moving average of $96.83. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $50.67 billion, a PE ratio of 119.95 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.