Cameco (NYSE:CCJ) Stock Price Up 3.2% - Time to Buy?

Key Points

• Cameco Corporation's stock (NYSE:CCJ) rose 3.2% on Thursday, increasing from a previous close of $83.54 to a last traded price of $86.23.
• Analysts show strong confidence in Cameco, with one Strong Buy and fourteen Buy ratings, alongside a consensus price target of $89.55.
• In its latest earnings report, Cameco reported $0.51 EPS, surpassing estimates, with quarterly revenue up 46.7% compared to the previous year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 3.2% on Thursday . The stock traded as high as $87.08 and last traded at $86.23. Approximately 4,416,241 shares changed hands during trading, a decline of 8% from the average daily volume of 4,774,338 shares. The stock had previously closed at $83.54.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CCJ shares. Royal Bank Of Canada increased their target price on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Weiss Ratings restated a "hold (c+)" rating on shares of Cameco in a research report on Wednesday, October 8th. Finally, Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Cameco currently has a consensus rating of "Buy" and a consensus price target of $89.55.

Cameco Stock Up 3.2%

The stock has a 50 day moving average price of $81.62 and a 200-day moving average price of $68.25. The stock has a market capitalization of $37.54 billion, a P/E ratio of 99.11 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.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $819.79 million. During the same period last year, the firm earned $0.14 earnings per share. The company's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in CCJ. Norges Bank purchased a new stake in shares of Cameco in the 2nd quarter worth approximately $341,736,000. Alliancebernstein L.P. boosted its stake in Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after purchasing an additional 3,959,837 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Cameco by 215.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after purchasing an additional 1,387,797 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new stake in Cameco during the 1st quarter valued at $55,513,000. 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.

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