Cameco (NYSE:CCJ) Trading 2.3% Higher

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 2.3% during mid-day trading on Thursday . The stock traded as high as $49.28 and last traded at $48.68. 2,175,369 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 4,349,066 shares. The stock had previously closed at $47.59.

Analysts Set New Price Targets

A number of brokerages recently commented on CCJ. 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. Bank of America raised their price objective on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank cut their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Glj Research reissued a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Up 0.5 %

The firm’s fifty day simple moving average is $41.55 and its 200 day simple moving average is $46.60. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 124.82 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its 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 firm had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. Sell-side analysts predict that Cameco Co. will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of Cameco during the first quarter worth about $26,000. Lindbrook Capital LLC grew its stake in Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after buying an additional 221 shares during the last quarter. Larson Financial Group LLC increased its position in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after buying an additional 600 shares during the period. Crewe Advisors LLC purchased a new stake in Cameco in the first quarter valued at approximately $87,000. Finally, BNP Paribas acquired a new stake in shares of Cameco in the first quarter valued at approximately $93,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.