Cameco (NYSE:CCJ) Shares Up 1.6% - What's Next?

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price was up 1.6% during trading on Friday . The stock traded as high as $79.87 and last traded at $79.13. Approximately 1,494,786 shares changed hands during trading, a decline of 69% from the average daily volume of 4,832,530 shares. The stock had previously closed at $77.91.

Wall Street Analysts Forecast Growth

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

Cameco Price Performance

The firm has a fifty day moving average price of $64.82 and a two-hundred day moving average price of $52.34. 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 stock has a market capitalization of $34.23 billion, a P/E ratio of 196.82 and a beta of 1.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC increased its holdings in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after buying an additional 300 shares in the last quarter. Hurley Capital LLC bought a new stake in shares of Cameco in the fourth quarter worth approximately $27,000. Dagco Inc. purchased a new position in shares of Cameco during the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new position in Cameco during the first quarter valued at approximately $29,000. Finally, Trust Co. of Vermont lifted its position in Cameco by 1,029.4% during the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.