Cameco (NYSE:CCJ) Stock Price Up 1.4% Following Analyst Upgrade

Key Points

• Cameco's stock price increased by 1.4% following an upgrade from a hold to a buy rating by Wall Street Zen.
• Institutional investors own 70.21% of Cameco's stock, with significant stakes acquired during the first quarter by various funds.
• The company's recent quarterly earnings report showed a strong 46.7% revenue increase year-over-year, with earnings per share surpassing analyst expectations.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shot up 1.4% during mid-day trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $88.65 and last traded at $85.39. 5,999,777 shares were traded during mid-day trading, an increase of 27% from the average session volume of 4,735,344 shares. The stock had previously closed at $84.17.

Several other equities analysts also recently commented on the company. CLSA started coverage on Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 price target on the stock. National Bankshares reiterated an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. Royal Bank Of Canada upped their price target on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of "Buy" and a consensus target price of $89.55.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC acquired a new stake in shares of Cameco in the 1st quarter valued at approximately $2,131,000. Northwest & Ethical Investments L.P. boosted its position in shares of Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock worth $1,750,000 after purchasing an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 11,879 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Cameco by 74.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company's stock worth $2,017,000 after buying an additional 20,947 shares during the period. Finally, Nicholson Meyer Capital Management Inc. bought a new position in Cameco during the first quarter worth about $350,000. Institutional investors own 70.21% of the company's stock.

Cameco Trading Up 1.4%

The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 98.15 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The business has a 50 day simple moving average of $78.70 and a 200-day simple moving average of $64.50.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data 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 business had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. During the same period in the previous year, the firm earned $0.14 EPS. Cameco's quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

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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