Cameco (NYSE:CCJ) Sets New 52-Week High - Here's What Happened

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price hit a new 52-week high on Tuesday . The company traded as high as $76.37 and last traded at $74.57, with a volume of 77136 shares traded. The stock had previously closed at $75.14.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $70.00 price target on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their target price on Cameco from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Desjardins initiated coverage on Cameco in a research note on Friday, April 4th. They issued a "buy" rating for the company. Finally, The Goldman Sachs Group raised their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $80.65.

Cameco Price Performance

The business's 50-day moving average price is $64.24 and its 200 day moving average price is $52.15. The stock has a market capitalization of $33.97 billion, a PE ratio of 195.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. Research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

A number of hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC lifted its stake in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Hurley Capital LLC bought a new stake in Cameco in the fourth quarter worth $27,000. Dagco Inc. bought a new stake in Cameco in the first quarter worth $28,000. SVB Wealth LLC bought a new stake in Cameco in the first quarter worth $29,000. Finally, Atticus Wealth Management LLC bought a new position in shares of Cameco during the second quarter valued at about $34,000. 70.21% of the stock is owned by institutional investors.

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.