Cameco (NYSE:CCJ) Stock Price Up 4.4% - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares shot up 4.4% on Tuesday . The company traded as high as $62.27 and last traded at $61.26. 5,449,799 shares were traded during trading, an increase of 31% from the average session volume of 4,155,809 shares. The stock had previously closed at $58.69.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Desjardins assumed coverage on Cameco in a report on Friday, April 4th. They set a "buy" rating on the stock. Stifel Canada raised Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Sanford C. Bernstein started coverage on shares of Cameco in a research note on Tuesday, April 1st. They set an "outperform" rating and a $52.00 price objective on the stock. Wall Street Zen upgraded shares of Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $70.53.

Cameco Price Performance

The stock has a fifty day moving average of $46.27 and a 200-day moving average of $49.15. The firm has a market capitalization of $25.47 billion, a P/E ratio of 208.93 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.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results 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). The business had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Equities analysts predict that Cameco Co. will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Cameco by 31.9% during the 4th quarter. Blue Trust Inc. now owns 2,077 shares of the basic materials company's stock valued at $99,000 after purchasing an additional 502 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Cameco by 149.0% during the fourth quarter. Mediolanum International Funds Ltd now owns 11,936 shares of the basic materials company's stock worth $610,000 after purchasing an additional 7,142 shares during the period. Caprock Group LLC acquired a new stake in Cameco during the 4th quarter worth approximately $349,000. U.S. Capital Wealth Advisors LLC grew its holdings in Cameco by 35.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 39,329 shares of the basic materials company's stock valued at $2,021,000 after buying an additional 10,231 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its position in Cameco by 2.3% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 42,086 shares of the basic materials company's stock worth $2,160,000 after buying an additional 955 shares during the period. 70.21% of the stock is owned by institutional investors.

About Cameco

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.