Cameco (NYSE:CCJ) Stock Price Up 3.4% Following Analyst Upgrade

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price was up 3.4% during mid-day trading on Tuesday after Canadian Imperial Bank of Commerce raised their price target on the stock to $202.00. The stock traded as high as $122.30 and last traded at $120.1350. Approximately 4,657,676 shares changed hands during trading, an increase of 4% from the average daily volume of 4,468,583 shares. The stock had previously closed at $116.14.

A number of other equities analysts have also recently weighed in on the company. Glj Research reissued a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Royal Bank Of Canada raised their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SHP Wealth Management purchased a new position in shares of Cameco during the 4th quarter worth about $353,000. Tobam grew its holdings in Cameco by 1,126.9% in the fourth quarter. Tobam now owns 5,521 shares of the basic materials company’s stock valued at $505,000 after purchasing an additional 5,071 shares during the period. Groupama Asset Managment increased its position in Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares during the last quarter. Walser Wealth Management Company A Ltd Liability Co acquired a new position in Cameco during the fourth quarter worth approximately $330,000. Finally, Copos Capital S.a r.l. purchased a new position in Cameco during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

The stock’s fifty day simple moving average is $115.41 and its two-hundred day simple moving average is $97.15. The company has a market cap of $52.32 billion, a price-to-earnings ratio of 123.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

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

About Cameco

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.