Cameco (NYSE:CCJ) Sets New 12-Month High - What's Next?

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $72.79 and last traded at $72.38, with a volume of 5792408 shares. The stock had previously closed at $69.72.

Analyst Ratings Changes

Several brokerages have commented on CCJ. Royal Bank Of Canada boosted their price target on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. The Goldman Sachs Group boosted their price target on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Glj Research reiterated a "buy" rating and issued a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Price Performance

The stock has a 50 day moving average of $56.83 and a two-hundred day moving average of $50.33. The stock has a market cap of $31.89 billion, a PE ratio of 183.12 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. Equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently bought and sold shares of CCJ. Manchester Capital Management LLC boosted its position in Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the period. Hurley Capital LLC acquired a new stake in Cameco during the 4th quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Cameco during the 4th quarter worth about $28,000. Dagco Inc. acquired a new stake in Cameco during the 1st quarter worth about $28,000. Finally, SVB Wealth LLC acquired a new stake in Cameco during the 1st quarter worth about $29,000. 70.21% of the stock is currently 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.