Cameco (NYSE:CCJ) Sees Strong Trading Volume

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares saw unusually-high trading volume on Monday . Approximately 2,114,237 shares were traded during trading, a decline of 51% from the previous session’s volume of 4,324,510 shares.The stock last traded at $46.40 and had previously closed at $44.40.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America raised their target price on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group raised their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Scotiabank cut their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $67.25.

Cameco Price Performance

The company’s 50-day simple moving average is $41.76 and its 200-day simple moving average is $46.55. The stock has a market capitalization of $19.94 billion, a P/E ratio of 113.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, sell-side analysts expect that Cameco Co. will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently made changes to their positions in CCJ. Heritage Wealth Management Inc. bought a new stake in Cameco during the second quarter worth about $402,000. Sanctuary Advisors LLC bought a new position in shares of Cameco during the second quarter valued at $349,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Cameco in the 2nd quarter valued at about $202,000. Granite Bay Wealth Management LLC acquired a new stake in Cameco during the 2nd quarter valued at approximately $273,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Cameco during the second quarter worth $542,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.