Cameco (NYSE:CCJ) Hits New 1-Year High - Here's Why

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO reached a new 52-week high on Thursday . The stock traded as high as $80.05 and last traded at $79.62, with a volume of 1069446 shares. The stock had previously closed at $79.15.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of research reports. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Royal Bank Of Canada increased their target price on Cameco from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Desjardins initiated coverage on Cameco in a research report on Friday, April 4th. They set a "buy" rating for the company. Finally, The Goldman Sachs Group increased their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $80.65.

Cameco Stock Performance

The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The business has a 50 day simple moving average of $67.51 and a two-hundred day simple moving average of $53.23. The firm has a market cap of $34.34 billion, a PE ratio of 196.93 and a beta of 1.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 EPS. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Hurley Capital LLC acquired a new stake in Cameco in the fourth quarter worth about $27,000. Dagco Inc. acquired a new stake in shares of Cameco during the first quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco during the first quarter worth about $29,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Cameco by 1,029.4% during the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after purchasing an additional 350 shares during the period. 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.