Cameco (NYSE:CCJ) Shares Up 1.1% - What's Next?

Key Points

• Cameco shares rose 1.1% on Thursday, trading as high as $96.75 before last changing hands around $95.78, with volume below its daily average.
• Analyst sentiment remains constructive, with 12 Buy ratings and 5 Hold ratings; the consensus price target is $148.11 even as Bank of America trimmed its target to $140.
• Recent fundamentals were solid: Cameco beat quarterly EPS estimates by $0.05 and posted revenue of $607.49 million, up 7.1% year over year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was up 1.1% during trading on Thursday . The company traded as high as $96.75 and last traded at $95.7830. 2,054,302 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 3,665,134 shares. The stock had previously closed at $94.73.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCJ. Bank of America cut their price target on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday. Royal Bank Of Canada increased their target price on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Weiss Ratings downgraded shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Scotiabank reissued an "outperform" rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Finally, William Blair began coverage on shares of Cameco in a research report on Monday, April 20th. They issued an "outperform" rating on the stock. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.11.

Cameco Stock Up 1.1%

The firm's 50 day moving average is $107.62 and its two-hundred day moving average is $110.87. The stock has a market cap of $41.72 billion, a price-to-earnings ratio of 88.69, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Cameco Corporation will post 1.21 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco during the 4th quarter worth approximately $25,000. Founders Capital Management acquired a new stake in Cameco in the fourth quarter worth $27,000. Strategic Advocates LLC acquired a new stake in Cameco in the third quarter worth $28,000. Mcguire Capital Advisors Inc. bought a new stake in Cameco in the fourth quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after buying an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Company Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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