Cameco (NYSE:CCJ) Stock Price Up 7.7% - Still a Buy?

Key Points

• Cameco shares jumped 7.7% to about $123.08 midday on Thursday, with roughly 2.9 million shares traded (about 26% below the average daily volume).
• Analysts remain largely bullish — 12 Buy ratings vs. 3 Holds, a consensus rating of "Moderate Buy" and an average price target of $150.40, with recent target increases (RBC $160, GLJ $171.20).
• The company beat quarterly estimates (EPS $0.36 vs. $0.29 and revenue $874.6M vs. $782.1M); Cameco has a market cap of $53.6B, a high P/E (~127), and about 70.2% institutional ownership.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shares rose 7.7% during mid-day trading on Thursday . The stock traded as high as $123.14 and last traded at $123.0830. Approximately 2,908,433 shares traded hands during trading, a decline of 26% from the average daily volume of 3,914,324 shares. The stock had previously closed at $114.29.

Analysts Set New Price Targets

CCJ has been the topic of several research reports. Royal Bank Of Canada boosted their price target on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, January 14th. Glj Research restated a "buy" rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Zacks Research lowered 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 set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $150.40.

Cameco Stock Up 7.7%

The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $114.95 and a two-hundred day simple moving average of $105.19. The company has a market capitalization of $53.61 billion, a price-to-earnings ratio of 126.89, a P/E/G ratio of 2.28 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Equities analysts expect that Cameco Corporation will post 1.2 EPS for the current year.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock valued at $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Capital World Investors boosted its holdings in shares of Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after acquiring an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Cameco by 0.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock worth $1,089,080,000 after acquiring an additional 85,762 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Cameco by 15.6% in the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock worth $575,771,000 after acquiring an additional 849,188 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Cameco by 7.0% in the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock worth $455,468,000 after acquiring an additional 323,693 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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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