Cameco (NYSE:CCJ) Shares Up 1.4% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 1.4% during trading on Thursday . The stock traded as high as $48.81 and last traded at $47.21. 2,176,123 shares were traded during mid-day trading, a decline of 52% from the average session volume of 4,510,784 shares. The stock had previously closed at $46.55.

Analyst Ratings Changes

Separately, StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a fifty day simple moving average of $51.00 and a 200 day simple moving average of $49.62. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 155.55 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in CCJ. Sierra Ocean LLC purchased a new position in shares of Cameco in the fourth quarter valued at approximately $25,000. Hurley Capital LLC purchased a new position in Cameco during the fourth quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Cameco during the fourth quarter worth approximately $28,000. Pingora Partners LLC purchased a new position in Cameco during the third quarter worth approximately $33,000. Finally, Whipplewood Advisors LLC purchased a new position in Cameco during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.