Cameco (NYSE:CCJ) Stock Price Up 1.1% - Time to Buy?

Key Points

• Shares rose 1.1% to about $120.44 on the day (intraday high $122.75) with volume ~3.35M shares (down ~17% vs. average); the stock trades above its 50‑day ($113.78) and 200‑day ($102.59) moving averages and has a market cap of $52.46 billion.
• Analysts are broadly positive: 11 Buys vs. 3 Holds yield a consensus rating of "Moderate Buy" and an average price target of $150.40, after several recent target increases and upgrades.
• Cameco recently beat expectations—Q results showed EPS $0.36 vs. $0.29 est. and revenue $874.6M vs. $782.1M—while maintaining low leverage (debt/equity 0.14) and institutional ownership around 70%.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 1.1% during mid-day trading on Thursday . The company traded as high as $122.75 and last traded at $120.4440. Approximately 3,349,995 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 4,020,912 shares. The stock had previously closed at $119.11.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce lifted their target price on shares of Cameco to $202.00 in a research note on Monday, March 9th. Glj Research reiterated a "buy" rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Zacks Research cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $150.40.

Cameco Price Performance

The stock's 50 day moving average price is $113.78 and its two-hundred day moving average price is $102.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The firm has a market capitalization of $52.46 billion, a price-to-earnings ratio of 124.17 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million during the quarter, compared to analysts' expectations of $782.13 million. During the same period in the previous year, the company earned $0.36 earnings per share. Cameco's revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate 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 bought and sold shares of the stock. Abbington Investment Group bought a new stake in shares of Cameco in the 3rd quarter worth about $6,506,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company's stock worth $20,964,000 after purchasing an additional 110,629 shares during the last quarter. NWF Advisory Services Inc. bought a new stake in shares of Cameco in the 3rd quarter worth about $1,996,000. Thames Capital Management LLC grew its holdings in shares of Cameco by 66.8% in the 3rd quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company's stock worth $8,978,000 after purchasing an additional 42,879 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Cameco by 7.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,755,802 shares of the basic materials company's stock worth $231,102,000 after purchasing an additional 202,279 shares during the last quarter. 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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