Cameco (NYSE:CCJ) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO saw unusually-high trading volume on Tuesday . Approximately 2,699,167 shares changed hands during trading, a decline of 35% from the previous session's volume of 4,146,661 shares.The stock last traded at $60.83 and had previously closed at $58.69.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of research reports. Sanford C. Bernstein initiated coverage on shares of Cameco in a research report on Tuesday, April 1st. They set an "outperform" rating and a $52.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Cameco in a research report on Tuesday, May 20th. They set a "buy" rating and a $65.00 target price on the stock. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Desjardins initiated coverage on shares of Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $70.53.

Cameco Trading Down 1.1%

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $46.27 and a 200 day moving average of $49.15. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 208.93 and a beta of 0.89.

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

Hedge Funds Weigh In On Cameco

Several institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased 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 valued at $578,226,000 after buying an additional 3,959,837 shares in the last quarter. Norges Bank bought a new stake in Cameco during the 4th quarter worth about $188,595,000. FMR LLC increased its position in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after acquiring an additional 1,811,876 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 worth $83,636,000 after acquiring an additional 1,387,797 shares during the last quarter. Finally, Temasek Holdings Private Ltd bought a new position in shares of Cameco in the first quarter worth about $55,513,000. Institutional investors own 70.21% of the company's stock.

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.