Cameco (NYSE:CCJ) Shares Up 7.7% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shot up 7.7% during mid-day trading on Thursday . The company traded as high as $123.14 and last traded at $123.0830. 2,908,433 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 3,914,324 shares. The stock had previously closed at $114.29.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCJ. Royal Bank Of Canada raised their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Glj Research restated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Cameco to $202.00 in a report on Monday, March 9th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Cameco Trading Down 2.2%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The firm’s fifty day simple moving average is $114.95 and its 200-day simple moving average is $105.19. The stock has a market cap of $52.44 billion, a P/E ratio of 124.12, a price-to-earnings-growth ratio of 2.28 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the business earned $0.36 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts expect that Cameco Corporation will post 1.2 EPS for the current fiscal year.

Institutional Trading of Cameco

Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC acquired a new stake in shares of Cameco during the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco during the 4th quarter worth approximately $25,000. Brown Lisle Cummings Inc. grew its position in shares of Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after buying an additional 288 shares during the period. Financial Consulate Inc. acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $25,000. Finally, Founders Capital Management acquired a new stake in shares of Cameco during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.