Cameco (NYSE:CCJ) Trading 3.4% Higher on Analyst Upgrade

Key Points

• Cameco (CCJ) jumped 3.4% after Canadian Imperial Bank of Commerce raised its price target to $202, with the stock trading as high as $122.30 and volume of about 4.66 million shares (≈4% above average).
• Analyst sentiment is largely positive—a MarketBeat consensus of “Moderate Buy” with a $150.40 target—backed by 1 Strong Buy, 13 Buy and 2 Hold ratings and recent target increases from RBC, GLJ and others.
• Cameco beat quarterly estimates (EPS $0.36 vs $0.29; revenue $874.6M vs $782.1M) and trades with a market cap of $52.32B, a high trailing P/E of 123.85, and roughly 70% institutional ownership.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shot up 3.4% on Tuesday after Canadian Imperial Bank of Commerce raised their price target on the stock to $202.00. The company traded as high as $122.30 and last traded at $120.1350. 4,657,676 shares were traded during trading, an increase of 4% from the average session volume of 4,468,583 shares. The stock had previously closed at $116.14.

A number of other brokerages have also recently commented on CCJ. Royal Bank Of Canada increased 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 reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. The Goldman Sachs Group reiterated a "buy" rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Finally, Glj Research restated a "buy" rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.40.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SHP Wealth Management acquired a new stake in shares of Cameco in the fourth quarter valued at about $353,000. Tobam lifted its stake in shares of Cameco by 1,126.9% in the fourth quarter. Tobam now owns 5,521 shares of the basic materials company's stock worth $505,000 after acquiring an additional 5,071 shares during the period. Groupama Asset Managment lifted its stake in shares of Cameco by 5.9% in the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock worth $176,000 after acquiring an additional 108 shares during the period. Walser Wealth Management Company A Ltd Liability Co bought a new stake in Cameco in the fourth quarter valued at approximately $330,000. Finally, Copos Capital S.a r.l. bought a new stake in Cameco in the fourth quarter valued at approximately $35,000. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $114.84 and its two-hundred day simple moving average is $96.83. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 123.85 and a beta of 0.98.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (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 for the quarter, compared to the consensus estimate of $782.13 million. During the same quarter in the previous year, the company earned $0.36 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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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