Cameco (NYSE:CCJ) Reaches New 12-Month High - Here's What Happened

Key Points

• Cameco Corporation shares reached a new 52-week high of $84.44, indicating a significant increase from the previous close of $78.11, with over 4.9 million shares traded.
• Analysts have a positive outlook on Cameco, with 13 Buy ratings and two Strong Buy ratings, and an average price target of $89.55, following strong quarterly earnings results.
• Institutional investors are increasingly investing in Cameco, with notable increases in stakes, including a 1,029.4% boost from Trust Co. of Vermont during the second quarter.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price hit a new 52-week high during trading on Monday . The stock traded as high as $84.44 and last traded at $84.42, with a volume of 4943516 shares changing hands. The stock had previously closed at $78.11.

Analyst Upgrades and Downgrades

CCJ has been the subject of several research analyst reports. UBS Group set a $102.00 price objective on shares of Cameco in a research report on Tuesday, September 9th. Royal Bank Of Canada raised their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. National Bankshares reissued an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Finally, Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Price Performance

The stock's 50 day simple moving average is $77.04 and its 200-day simple moving average is $60.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company has a market capitalization of $37.37 billion, a PE ratio of 98.64 and a beta of 1.04.

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

Institutional Investors Weigh In On Cameco

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Cameco during the second quarter worth $341,736,000. Alliancebernstein L.P. lifted its holdings in shares of Cameco by 39.3% during 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 period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Cameco by 41.4% during 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 period. Canada Pension Plan Investment Board lifted its holdings in Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after acquiring an additional 1,387,797 shares during the period. Finally, Temasek Holdings Private Ltd acquired a new stake in Cameco in the first quarter valued at $55,513,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.