Cameco (NYSE:CCJ) Shares Up 1.7% - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price was up 1.7% during trading on Friday . The stock traded as high as $54.87 and last traded at $54.78. Approximately 1,080,135 shares were traded during trading, a decline of 76% from the average daily volume of 4,410,477 shares. The stock had previously closed at $53.85.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a report on Friday, October 4th. Scotiabank reduced their target price on Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, August 19th. Glj Research reiterated a "buy" rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. National Bank Financial upgraded shares of Cameco to a "strong-buy" rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised shares of Cameco from a "neutral" rating to an "overweight" rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Cameco currently has a consensus rating of "Buy" and an average target price of $66.56.

View Our Latest Stock Analysis on CCJ

Cameco Stock Down 0.1 %

The firm has a 50-day moving average price of $45.96 and a two-hundred day moving average price of $47.89. The company has a market capitalization of $23.41 billion, a P/E ratio of 137.92 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The business's revenue for the quarter was up 24.1% on a year-over-year basis. Equities research analysts anticipate that Cameco Co. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently modified their holdings of CCJ. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Cameco by 10.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,655,676 shares of the basic materials company's stock valued at $71,722,000 after buying an additional 160,113 shares during the period. Wealthstar Advisors LLC lifted its stake in Cameco by 21.2% during the first quarter. Wealthstar Advisors LLC now owns 8,656 shares of the basic materials company's stock worth $375,000 after purchasing an additional 1,516 shares during the period. Principal Financial Group Inc. lifted its stake in Cameco by 43.7% during the first quarter. Principal Financial Group Inc. now owns 22,700 shares of the basic materials company's stock worth $984,000 after purchasing an additional 6,900 shares during the period. Fortis Group Advisors LLC bought a new stake in shares of Cameco in the 1st quarter valued at approximately $480,000. Finally, Van ECK Associates Corp grew its stake in shares of Cameco by 26.2% in the 1st quarter. Van ECK Associates Corp now owns 789,714 shares of the basic materials company's stock valued at $34,207,000 after purchasing an additional 164,095 shares during the period. 70.21% of the stock is currently 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.

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