Cameco (NYSE:CCJ) Stock Price Up 1.1% - Still a Buy?

Key Points

• Cameco's stock price rose by 1.1%, reaching a last trading price of $93.12, with over 7.5 million shares exchanged, reflecting a significant increase from its average daily volume.
• Analyst ratings for Cameco are mixed, with one upgrade to a "buy" from President Capital, while Wall Street Zen downgraded the stock from "buy" to "hold"; overall, the average rating remains a "buy" with a price target of $89.55.
• Institutional investors control 70.21% of Cameco's shares, with significant increases in holdings reported by several hedge funds, indicating strong confidence in the company's prospects.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price rose 1.1% during trading on Tuesday . The company traded as high as $95.98 and last traded at $93.12. Approximately 7,564,720 shares were traded during trading, an increase of 59% from the average daily volume of 4,759,174 shares. The stock had previously closed at $92.15.

Analyst Ratings Changes

A number of research analysts have recently commented on CCJ shares. President Capital upgraded Cameco from a "neutral" rating to a "buy" rating in a research report on Monday, September 22nd. CLSA started coverage on shares of Cameco in a research note on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective for the company. Wall Street Zen downgraded shares of Cameco from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cameco in a report on Wednesday, October 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $89.55.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market cap of $40.54 billion, a price-to-earnings ratio of 107.03 and a beta of 0.99. The stock's 50 day simple moving average is $80.01 and its 200-day simple moving average is $66.32.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same period in the prior year, the firm earned $0.14 EPS. The firm's revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. increased its holdings in Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company's stock worth $29,000 after buying an additional 182 shares during the period. Trust Co. of Vermont increased its stake in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after acquiring an additional 350 shares during the period. Hilltop National Bank acquired a new stake in shares of Cameco in the second quarter worth $30,000. Atticus Wealth Management LLC acquired a new stake in Cameco during the 2nd quarter worth about $34,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Cameco during the 2nd quarter worth about $35,000. Institutional investors and hedge funds 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.

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