Cameco (NYSE:CCJ) Hits New 52-Week High - Should You Buy?

Key Points

• Cameco Corporation (NYSE:CCJ) reached a new 52-week high of $91.46, reflecting a strong trading volume of over 1.2 million shares.
• Analysts have generally positive outlooks on the stock, with a consensus rating of "Buy" and an average price target of $89.55, alongside several upward revisions from various research firms.
• Cameco reported quarterly earnings of $0.51 per share, significantly beating estimates, and a substantial 46.7% increase in revenue compared to the same quarter last year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO hit a new 52-week high during trading on Friday . The stock traded as high as $90.90 and last traded at $91.46, with a volume of 1229221 shares. The stock had previously closed at $86.73.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. National Bankshares reiterated an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Cameco in a report on Wednesday. President Capital raised Cameco from a "neutral" rating to a "buy" rating in a report on Monday, September 22nd. Wall Street Zen raised Cameco from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Finally, CLSA assumed coverage on Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $89.55.

Cameco Stock Performance

The company has a 50 day moving average price of $79.40 and a 200-day moving average price of $65.36. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The company has a market cap of $39.28 billion, a P/E ratio of 104.83 and a beta of 0.99.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Cameco by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company's stock worth $1,304,504,000 after purchasing an additional 481,171 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after purchasing an additional 3,959,837 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock worth $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Norges Bank purchased a new stake in shares of Cameco in the second quarter worth approximately $341,736,000. Finally, AGF Management Ltd. raised its stake in shares of Cameco by 19.0% in the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after purchasing an additional 644,413 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.

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