Cameco (NYSE:CCJ) Shares Up 3.3% - Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO traded up 3.3% during mid-day trading on Tuesday . The company traded as high as $72.04 and last traded at $72.01. 1,862,994 shares were traded during trading, a decline of 58% from the average session volume of 4,416,032 shares. The stock had previously closed at $69.72.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Glj Research reiterated a "buy" rating and issued a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. Stifel Nicolaus began coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating for the company. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $80.65.

Cameco Trading Down 1.6%

The stock's fifty day moving average is $56.19 and its 200 day moving average is $50.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The stock has a market cap of $31.89 billion, a P/E ratio of 183.12 and a beta of 0.97.

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

Hedge Funds Weigh In On Cameco

Large investors have recently bought and sold shares of the business. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 300 shares during the period. Hurley Capital LLC bought a new position in Cameco in the 4th quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Cameco during the fourth quarter valued at approximately $28,000. Dagco Inc. purchased a new stake in shares of Cameco in the first quarter valued at approximately $28,000. Finally, SVB Wealth LLC bought a new position in shares of Cameco during the 1st quarter worth $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.