Cameco (NYSE:CCJ) Trading 1.7% Higher - Should You Buy?

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 1.7% during trading on Thursday . The stock traded as high as $72.70 and last traded at $72.87. Approximately 1,086,828 shares were traded during trading, a decline of 76% from the average daily volume of 4,503,310 shares. The stock had previously closed at $71.66.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research reports. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Glj Research reaffirmed a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Stifel Canada upgraded Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Finally, Scotiabank restated an "outperform" rating on shares of Cameco in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $80.65.

Cameco Price Performance

The stock has a market capitalization of $31.79 billion, a PE ratio of 182.55 and a beta of 1.03. The stock's 50 day moving average price is $59.91 and its 200-day moving average price is $50.98. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The business's revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CCJ. Hurley Capital LLC purchased a new position in shares of Cameco in the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Cameco in the fourth quarter valued at approximately $28,000. Manchester Capital Management LLC grew its holdings in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Dagco Inc. acquired a new position in shares of Cameco during the first quarter worth $28,000. Finally, SVB Wealth LLC purchased a new stake in shares of Cameco during the 1st quarter valued at $29,000. Hedge funds and other 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.