Cameco (NYSE:CCJ) Trading 2.4% Higher - Here's Why

Key Points

• Cameco shares rose 2.4% midday to about $123.58 on Monday, with trading volume down roughly 27% versus the average session.
• Analysts are broadly positive: 12 Buys and 3 Holds yield a "Moderate Buy" consensus and an average price target of $150.40, with several recent target upgrades (e.g., CIBC $202, RBC $160).
• Quarterly results beat estimates: Cameco reported $0.36 EPS vs. $0.29 expected and revenue of $874.6M vs. $782.1M, while maintaining a large market cap (~$53.8B) and low debt-to-equity (0.14).

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price traded up 2.4% during mid-day trading on Monday . The company traded as high as $123.69 and last traded at $123.5790. 2,916,867 shares were traded during mid-day trading, a decline of 27% from the average session volume of 4,007,943 shares. The stock had previously closed at $120.66.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Glj Research reiterated a "buy" rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. The Goldman Sachs Group reiterated a "buy" rating and issued a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Royal Bank Of Canada boosted their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. William Blair started coverage on shares of Cameco in a report on Monday. They issued an "outperform" rating for the company. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Cameco to $202.00 in a report on Monday, March 9th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $150.40.

Cameco Stock Performance

The company has a market capitalization of $53.82 billion, a PE ratio of 127.40 and a beta of 1.02. The business's fifty day moving average is $114.15 and its two-hundred day moving average is $103.23. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same period in the previous year, the business posted $0.36 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that Cameco Corporation will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC grew its position in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company's stock worth $929,000 after purchasing an additional 85 shares during the period. Legacy Bridge LLC grew its position in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company's stock worth $1,053,000 after purchasing an additional 100 shares during the period. Groupama Asset Managment grew its stake in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock valued at $176,000 after purchasing an additional 108 shares during the period. S.A. Mason LLC grew its stake in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 111 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Cameco by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 112 shares during the period. Institutional investors own 70.21% of the company's stock.

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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