Cameco (NYSE:CCJ) Shares Up 4.2% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares shot up 4.2% during mid-day trading on Thursday . The stock traded as high as $99.65 and last traded at $98.9740. 4,544,381 shares changed hands during trading, an increase of 20% from the average session volume of 3,780,582 shares. The stock had previously closed at $95.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CCJ. Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada increased their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Barclays started coverage on shares of Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, William Blair initiated coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Trading Up 4.2%

The company’s fifty day moving average is $113.52 and its two-hundred day moving average is $109.01. The stock has a market cap of $43.11 billion, a price-to-earnings ratio of 91.64, a PEG ratio of 1.73 and a beta of 0.99. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. On average, research analysts predict that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC boosted its holdings in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after purchasing an additional 85 shares in the last quarter. Legacy Bridge LLC boosted its holdings in Cameco by 0.9% in the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Cameco by 3.1% in the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 107 shares in the last quarter. Groupama Asset Managment boosted its holdings in Cameco by 5.9% in the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after purchasing an additional 108 shares in the last quarter. Finally, S.A. Mason LLC boosted its holdings in Cameco by 4.8% in the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 111 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.