Cameco (NYSE:CCJ) Hits New 52-Week High - Time to Buy?

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO hit a new 52-week high during trading on Monday . The company traded as high as $70.80 and last traded at $70.56, with a volume of 2886560 shares trading hands. The stock had previously closed at $66.66.

Analysts Set New Price Targets

Several research analysts recently weighed in on CCJ shares. Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Wednesday, May 14th. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. UBS Group restated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Desjardins started coverage on Cameco in a report on Friday, April 4th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $75.63.

Cameco Stock Performance

The company has a market capitalization of $30.82 billion, a price-to-earnings ratio of 252.79 and a beta of 0.97. The stock's 50 day moving average price is $50.71 and its 200 day moving average price is $49.45. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. Analysts expect that Cameco Co. will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in shares of Cameco during the 4th quarter worth about $25,000. Hurley Capital LLC acquired a new position in shares of Cameco during the 4th quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $28,000. Manchester Capital Management LLC increased its holdings in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Cameco during the 4th quarter worth approximately $33,000. 70.21% of the stock is 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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