Cameco (NYSE:CCJ) Trading 1.8% Higher – What’s Next?
by Mitch Edgeman · The Markets DailyCameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) rose 1.8% on Tuesday . The company traded as high as $122.25 and last traded at $120.9160. Approximately 3,427,501 shares changed hands during trading, a decline of 26% from the average daily volume of 4,656,782 shares. The stock had previously closed at $118.75.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on CCJ shares. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Scotiabank reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Finally, Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $143.03.
Read Our Latest Report on Cameco
Cameco Stock Up 1.8%
The firm has a fifty day moving average of $109.36 and a 200-day moving average of $93.81. 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 firm has a market cap of $52.66 billion, a P/E ratio of 124.66 and a beta of 0.99.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating 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 firm had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Consulate Inc. acquired a new stake in Cameco in the 3rd quarter valued at about $25,000. Nisa Investment Advisors LLC bought a new stake in Cameco in the fourth quarter valued at approximately $25,000. Founders Capital Management acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $27,000. Strategic Advocates LLC bought a new position in shares of Cameco during the 3rd quarter worth approximately $28,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter worth approximately $28,000. Institutional investors own 70.21% of the company’s stock.
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.