Cameco (NYSE:CCJ) Trading Up 5.9% – Here’s What Happened
by Danessa Lincoln · The Markets DailyCameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO)’s share price shot up 5.9% during trading on Monday . The company traded as high as $107.95 and last traded at $106.9650. 3,323,558 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 3,767,558 shares. The stock had previously closed at $100.96.
Analysts Set New Price Targets
Several analysts recently weighed in on CCJ shares. William Blair began coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Barclays began coverage on shares of Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price on the stock. Glj Research reaffirmed a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.42.
Check Out Our Latest Stock Analysis on Cameco
Cameco Stock Down 2.0%
The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $112.82 and a 200 day simple moving average of $109.66. The company has a market cap of $46.04 billion, a P/E ratio of 97.87, a P/E/G ratio of 1.97 and a beta of 0.99.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Cameco Corporation will post 1.21 EPS for the current year.
Institutional Investors Weigh In On Cameco
A number of institutional investors and hedge funds have recently bought and sold shares of CCJ. Legal & General Group Plc increased its holdings in Cameco by 4.6% during the third quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after buying an additional 108,841 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new stake in Cameco during the fourth quarter worth $1,974,000. Intech Investment Management LLC lifted its holdings in Cameco by 3.8% during the third quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock worth $42,031,000 after buying an additional 18,261 shares during the period. Vanguard Group Inc. boosted its position in Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after acquiring an additional 85,762 shares in the last quarter. 70.21% of the stock is owned by institutional investors.
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.