Cameco (NYSE:CCJ) Trading Up 2.6% – Here’s Why

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were up 2.6% on Friday . The stock traded as high as $43.01 and last traded at $42.89. Approximately 905,892 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,105,709 shares. The stock had previously closed at $41.81.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CCJ shares. Glj Research boosted their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus started coverage on shares of Cameco in a research report on Wednesday. They issued a “buy” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Finally, Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Up 1.5 %

The business’s fifty day simple moving average is $47.80 and its 200 day simple moving average is $49.96. 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 stock has a market cap of $18.47 billion, a price-to-earnings ratio of 151.55 and a beta of 1.04.

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

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Norges Bank acquired a new position in shares of Cameco in the 4th quarter valued at $188,595,000. FMR LLC grew its holdings in shares of Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after buying an additional 1,811,876 shares during the period. Driehaus Capital Management LLC lifted its position in Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock valued at $115,398,000 after acquiring an additional 1,225,966 shares in the last quarter. Alliancebernstein L.P. lifted its position in Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares in the last quarter. Finally, AGF Management Ltd. lifted its position in Cameco by 54.2% in the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock valued at $174,433,000 after acquiring an additional 1,193,266 shares in the last quarter. 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.