Cameco (NYSE:CCJ) Reaches New 1-Year High – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) hit a new 52-week high on Thursday . The stock traded as high as $56.31 and last traded at $56.31, with a volume of 121423 shares traded. The stock had previously closed at $55.78.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several analyst reports. Glj Research reaffirmed a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America lifted their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 143.00 and a beta of 0.90. 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 stock’s 50 day moving average price is $43.70 and its two-hundred day moving average price is $47.52.

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). The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, equities research analysts anticipate that Cameco Co. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its position in shares of Cameco by 10.3% during the fourth quarter. EP Wealth Advisors LLC now owns 8,407 shares of the basic materials company’s stock worth $362,000 after purchasing an additional 782 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Cameco by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 15,711,083 shares of the basic materials company’s stock worth $677,148,000 after acquiring an additional 162,569 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Cameco during the first quarter worth about $228,000. Banque Cantonale Vaudoise lifted its holdings in shares of Cameco by 44.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 17,450 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 5,361 shares in the last quarter. Finally, Bank of New Hampshire increased its stake in Cameco by 21.9% during the 1st quarter. Bank of New Hampshire now owns 39,453 shares of the basic materials company’s stock worth $1,709,000 after purchasing an additional 7,076 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

About Cameco

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.