Cameco (NYSE:CCJ) Shares Up 0.6%

Cameco Co. (NYSE:CCJ) (TSE:CCO) was up 0.6% during trading on Tuesday . The company traded as high as $48.92 and last traded at $48.06. Approximately 1,498,796 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,355,564 shares. The stock had previously closed at $47.76.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CCJ shares. The Goldman Sachs Group increased their price objective on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Glj Research reissued a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Scotiabank decreased their price target 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. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Cameco presently has an average rating of “Buy” and an average price target of $67.25.

Cameco Price Performance

The company’s 50-day moving average is $41.61 and its 200-day moving average is $46.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 123.36 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. During the same period in the prior year, the business posted ($0.01) earnings per share. Cameco’s revenue was up 24.1% on a year-over-year basis. On average, research analysts expect that Cameco Co. will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of the stock. LRI Investments LLC purchased a new position in Cameco in the first quarter valued at approximately $26,000. Larson Financial Group LLC raised its holdings in Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after buying an additional 600 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Cameco during the first quarter valued at approximately $87,000. BNP Paribas purchased a new stake in shares of Cameco during the first quarter valued at approximately $93,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Cameco during the fourth quarter valued at approximately $97,000. 70.21% of the stock is 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.