Cameco (NYSE:CCJ) Stock Price Up 1.9% - Should You Buy?

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shot up 1.9% on Friday . The company traded as high as $73.50 and last traded at $73.02. 2,773,981 shares traded hands during trading, a decline of 39% from the average session volume of 4,520,784 shares. The stock had previously closed at $71.66.

Wall Street Analyst Weigh In

CCJ has been the subject of several analyst reports. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, May 14th. Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a "buy" rating for the company. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Desjardins initiated coverage on shares of Cameco in a research report on Friday, April 4th. They set a "buy" rating for the company. Finally, Glj Research reissued a "buy" rating and set a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. One research 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 stock. According to data from MarketBeat.com, Cameco currently has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Stock Up 2.3%

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 company's fifty day moving average is $59.91 and its 200-day moving average is $50.97. The company has a market cap of $32.72 billion, a PE ratio of 187.90 and a beta of 1.03.

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

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Country Club Bank boosted its stake in shares of Cameco by 0.5% during the 1st quarter. Country Club Bank now owns 43,553 shares of the basic materials company's stock worth $1,822,000 after acquiring an additional 224 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company's stock worth $43,000 after acquiring an additional 226 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Cameco by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock worth $2,592,000 after acquiring an additional 238 shares during the last quarter. Sunpointe LLC boosted its stake in shares of Cameco by 1.8% during the 1st quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company's stock worth $670,000 after acquiring an additional 288 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in shares of Cameco by 5.0% during the 4th quarter. Highview Capital Management LLC DE now owns 6,246 shares of the basic materials company's stock worth $321,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other 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.