Cameco (NYSE:CCJ) Hits New 1-Year High - Time to Buy?

Key Points

• Cameco Corporation shares reached a new 52-week high of $83.02, closing at $78.48 with significant trading volume of over 2 million shares.
• Analysts have predominantly rated Cameco with a consensus rating of "Buy" and a price target of $83.32, reflecting positive market sentiment.
• The company reported quarterly earnings of $0.51 per share, exceeding expectations, with a 46.7% year-over-year revenue increase, despite overall revenue falling short of estimates.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO reached a new 52-week high during trading on Friday . The company traded as high as $83.02 and last traded at $78.48, with a volume of 2063172 shares changing hands. The stock had previously closed at $78.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CCJ shares. Wall Street Zen downgraded Cameco from a "buy" rating to a "hold" rating in a report on Saturday. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. UBS Group reissued a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Royal Bank Of Canada boosted their target price on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to MarketBeat.com, Cameco has a consensus rating of "Buy" and a consensus price target of $83.32.

Cameco Stock Performance

The stock has a 50 day moving average price of $75.37 and a two-hundred day moving average price of $58.09. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The company has a market cap of $33.76 billion, a P/E ratio of 88.95 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted 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 firm had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. During the same quarter last year, the company earned $0.14 EPS. The company's revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently added to or reduced their stakes in CCJ. First Trust Advisors LP bought a new position in Cameco during the 4th quarter worth $390,000. Integrated Wealth Concepts LLC boosted its holdings in shares of Cameco by 6.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 5,705 shares of the basic materials company's stock valued at $293,000 after purchasing an additional 370 shares in the last quarter. Beacon Pointe Advisors LLC boosted its holdings in shares of Cameco by 2.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 11,811 shares of the basic materials company's stock valued at $607,000 after purchasing an additional 330 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Cameco by 50.8% in the 4th quarter. Northern Trust Corp now owns 367,299 shares of the basic materials company's stock valued at $18,875,000 after purchasing an additional 123,684 shares in the last quarter. Finally, Bison Wealth LLC boosted its holdings in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

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.