Cameco (NYSE:CCJ) Trading 2.2% Higher - Still a Buy?

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO were up 2.2% during mid-day trading on Tuesday . The stock traded as high as $60.97 and last traded at $59.46. Approximately 2,765,909 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 4,220,943 shares. The stock had previously closed at $58.18.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Canada upgraded Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Wall Street Zen upgraded shares of Cameco from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on shares of Cameco in a report on Tuesday, May 20th. They set a "buy" rating and a $65.00 target price on the stock. Desjardins assumed coverage on shares of Cameco in a research note on Friday, April 4th. They issued a "buy" rating for the company. Finally, Glj Research upped their price objective on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Cameco has an average rating of "Buy" and a consensus price target of $70.53.

Cameco Stock Up 0.1%

The stock has a market cap of $26.13 billion, a PE ratio of 214.41 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $47.27 and a 200 day moving average of $49.28.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Cameco's revenue was up 24.4% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts anticipate that Cameco Co. will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in shares of Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after purchasing an additional 3,959,837 shares during the last quarter. Norges Bank acquired a new stake in shares of Cameco in the 4th quarter valued at about $188,595,000. FMR LLC grew its stake in Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Cameco by 215.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after buying an additional 1,387,797 shares during the period. Finally, Temasek Holdings Private Ltd purchased a new stake in Cameco in the first quarter valued at approximately $55,513,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.