Cameco (NYSE:CCJ) Trading 3.5% Higher – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price traded up 3.5% during mid-day trading on Wednesday . The stock traded as high as $45.46 and last traded at $45.11. 1,279,319 shares were traded during trading, a decline of 72% from the average session volume of 4,621,297 shares. The stock had previously closed at $43.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $50.37 and its 200-day simple moving average is $49.89. The stock has a market cap of $19.55 billion, a P/E ratio of 160.27 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. As a group, sell-side analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Sierra Ocean LLC bought a new position in Cameco during the fourth quarter worth about $25,000. Hurley Capital LLC bought a new position in Cameco during the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in Cameco in the fourth quarter valued at approximately $33,000. Finally, Pingora Partners LLC acquired a new stake in Cameco in the third quarter worth $33,000. 70.21% of the stock is owned by institutional investors.

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.