Cameco (NYSE:CCJ) Stock Price Up 6.3% - What's Next?

Key Points

• Cameco Corporation's stock price increased by 6.3% during mid-day trading, reaching $92.09, with a significant trading volume of approximately 6.8 million shares.
• Analysts have mixed ratings on Cameco, with the consensus rating being "Buy" and price targets ranging from $89.55 to $102, indicating optimism about its future performance.
• The company reported an earnings per share (EPS) of $0.51 for the most recent quarter, exceeding estimates, while also achieving a 46.7% increase in revenue compared to the previous year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price rose 6.3% during mid-day trading on Monday . The stock traded as high as $94.36 and last traded at $92.09. Approximately 6,805,163 shares changed hands during mid-day trading, an increase of 43% from the average daily volume of 4,744,708 shares. The stock had previously closed at $86.65.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent analyst reports. TD Securities restated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. UBS Group set a $102.00 price objective on Cameco in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cameco in a research report on Wednesday, October 8th. CLSA assumed coverage on Cameco in a research report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 price objective for the company. Finally, Wall Street Zen cut Cameco from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $89.55.

Cameco Stock Up 6.3%

The firm has a 50-day moving average of $79.67 and a 200 day moving average of $65.97. 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 stock has a market capitalization of $40.09 billion, a price-to-earnings ratio of 105.85 and a beta of 0.99.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 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 during the quarter, compared to analysts' expectations of $819.79 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The business'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, sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Bison Wealth LLC raised its stake in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after buying an additional 2,975 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Cameco by 29.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company's stock valued at $322,000 after buying an additional 1,439 shares during the period. GAMMA Investing LLC raised its stake in Cameco by 3,927.4% in the first quarter. GAMMA Investing LLC now owns 20,580 shares of the basic materials company's stock valued at $847,000 after buying an additional 20,069 shares during the period. Park Avenue Securities LLC raised its stake in Cameco by 58.2% in the first quarter. Park Avenue Securities LLC now owns 8,819 shares of the basic materials company's stock valued at $363,000 after buying an additional 3,246 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Cameco by 465.5% in the first quarter. Farther Finance Advisors LLC now owns 16,411 shares of the basic materials company's stock valued at $686,000 after buying an additional 13,509 shares during the period. Institutional investors own 70.21% of the company's stock.

Cameco Company Profile

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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