Cameco (NYSE:CCJ) Trading 2.2% Higher – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) rose 2.2% during trading on Thursday . The company traded as high as $57.34 and last traded at $57.03. Approximately 3,823,205 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 4,377,435 shares. The stock had previously closed at $55.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CCJ shares. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Scotiabank reduced their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald upgraded 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cameco has an average rating of “Buy” and an average price target of $66.56.

Cameco Trading Up 2.4 %

The stock has a market cap of $25.25 billion, a PE ratio of 148.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The company has a 50 day moving average of $44.42 and a two-hundred day moving average of $47.66.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. Sell-side analysts anticipate that Cameco Co. will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Cameco by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 15,711,083 shares of the basic materials company’s stock worth $677,148,000 after buying an additional 162,569 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Cameco in the first quarter worth approximately $228,000. Banque Cantonale Vaudoise increased its position in shares of Cameco by 44.3% during the first quarter. Banque Cantonale Vaudoise now owns 17,450 shares of the basic materials company’s stock worth $757,000 after purchasing an additional 5,361 shares in the last quarter. Ballentine Partners LLC acquired a new position in Cameco in the 1st quarter valued at $273,000. Finally, Westend Capital Management LLC purchased a new position in Cameco in the 1st quarter valued at $11,053,000. Institutional investors and hedge funds 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.