Cameco (NYSE:CCJ) Trading 3.2% Higher – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 3.2% during mid-day trading on Monday . The stock traded as high as $45.88 and last traded at $45.96. Approximately 703,080 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,083,351 shares. The stock had previously closed at $44.53.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Glj Research lifted their target price on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday, March 12th. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus began coverage on Cameco in a report on Wednesday, March 12th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $73.64.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a market capitalization of $19.36 billion, a PE ratio of 158.82 and a beta of 1.04. The company has a 50 day moving average price of $46.88 and a 200 day moving average price of $50.28.

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

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Glenmede Trust Co. NA increased its holdings in shares of Cameco by 2.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 191 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Cameco by 37.4% in the fourth quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Two Sigma Investments LP raised its holdings in shares of Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock worth $2,592,000 after purchasing an additional 238 shares during the period. Heritage Wealth Management Inc. lifted its position in shares of Cameco by 0.8% in the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock worth $1,587,000 after buying an additional 250 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Cameco by 48.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds 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.