Cameco (NYSE:CCJ) Reaches New 1-Year High - Still a Buy?

Key Points

• Cameco Corporation's stock price reached a new 52-week high of $87.15 in mid-day trading, closing at $84.19 with a significant trading volume of 464,219 shares.
• Wall Street analysts are divided on Cameco, with a majority rating the stock as a Buy while a few have downgraded it to a "hold," leading to an average target price of $89.55.
• In the latest quarterly earnings, Cameco reported $0.51 earnings per share, exceeding estimates and showing a 46.7% increase in revenue compared to the previous year.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO hit a new 52-week high on Monday . The stock traded as high as $87.15 and last traded at $84.19, with a volume of 464219 shares traded. The stock had previously closed at $86.18.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. TD Securities reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada upped their price target on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Wall Street Zen cut Cameco from a "buy" rating to a "hold" rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to MarketBeat, Cameco presently has a consensus rating of "Buy" and an average price target of $89.55.

Cameco Trading Down 0.0%

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 $37.51 billion, a PE ratio of 99.03 and a beta of 1.04. The company has a fifty day simple moving average of $77.53 and a two-hundred day simple moving average of $61.86.

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

Institutional Investors Weigh In On Cameco

Hedge funds and other institutional investors have recently modified their holdings of the company. Hager Investment Management Services LLC raised its position in shares of Cameco by 0.4% during the second quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company's stock valued at $2,274,000 after buying an additional 127 shares during the last quarter. Wealth Alliance LLC lifted its position in shares of Cameco by 1.6% in the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company's stock worth $745,000 after acquiring an additional 154 shares during the period. Colonial Trust Advisors increased its position in shares of Cameco by 0.3% during the second quarter. Colonial Trust Advisors now owns 59,753 shares of the basic materials company's stock valued at $4,435,000 after purchasing an additional 172 shares during the period. Signaturefd LLC raised its stake in shares of Cameco by 2.4% in the second quarter. Signaturefd LLC now owns 8,119 shares of the basic materials company's stock valued at $603,000 after purchasing an additional 191 shares in the last quarter. Finally, Keel Point LLC lifted its position in Cameco by 3.5% in the second quarter. Keel Point LLC now owns 5,646 shares of the basic materials company's stock worth $419,000 after purchasing an additional 191 shares during the period. 70.21% of the stock is currently 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.