Shares of Cameco Co. (NYSE:CCJ – Get Free Report) TSE: CCO shot up 4% during mid-day trading on Tuesday . The stock traded as high as $38.52 and last traded at $38.36. 2,192,286 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 4,404,254 shares. The stock had previously closed at $36.90.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CCJ. The Goldman Sachs Group upped 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 upped 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. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.
Cameco Trading Up 3.5 %
The firm has a market capitalization of $16.62 billion, a P/E ratio of 97.41 and a beta of 0.92. The firm has a fifty day simple moving average of $49.95 and a two-hundred day simple moving average of $47.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 0.69.
Cameco (NYSE:CCJ – Get Free Report) TSE: CCO last posted 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). The company had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, equities research analysts anticipate that Cameco Co. will post 1.06 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cameco
Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in Cameco by 41.2% during the second quarter. Acadian Asset Management LLC now owns 82,200 shares of the basic materials company’s stock valued at $4,041,000 after buying an additional 24,000 shares during the period. Umpqua Bank bought a new stake in Cameco during the second quarter valued at $227,000. Cullen Frost Bankers Inc. boosted its stake in Cameco by 7.1% during the second quarter. Cullen Frost Bankers Inc. now owns 5,356 shares of the basic materials company’s stock valued at $264,000 after buying an additional 356 shares during the period. Candriam S.C.A. boosted its stake in Cameco by 41.7% during the second quarter. Candriam S.C.A. now owns 8,216 shares of the basic materials company’s stock valued at $404,000 after buying an additional 2,416 shares during the period. Finally, National Bank of Canada FI boosted its stake in Cameco by 16.9% during the second quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company’s stock valued at $129,540,000 after buying an additional 381,176 shares during the period. 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.