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

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

Analyst Upgrades and Downgrades

Several analysts recently commented on CCJ shares. 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 report on Friday, June 20th. 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 report on Wednesday, June 11th. Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Desjardins started coverage on Cameco in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Trading Up 1.9%

The business has a 50 day simple moving average of $59.33 and a 200-day simple moving average of $50.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The stock has a market capitalization of $31.79 billion, a P/E ratio of 182.55 and a beta of 1.03.

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

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hurley Capital LLC bought a new stake in shares of Cameco during the 4th quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Cameco during the 4th quarter worth $28,000. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter worth $28,000. Finally, SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter worth $29,000. 70.21% of the stock is owned by institutional investors.

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.

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