Cameco (NYSE:CCJ) Trading 5.8% Higher - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price shot up 5.8% during mid-day trading on Monday . The stock traded as high as $70.87 and last traded at $70.52. 4,701,422 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 4,363,250 shares. The stock had previously closed at $66.66.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CCJ shares. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Desjardins started coverage on Cameco in a report on Friday, April 4th. They set a "buy" rating on the stock. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of "Buy" and a consensus price target of $75.63.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company's 50 day moving average price is $50.71 and its 200 day moving average price is $49.45. The firm has a market capitalization of $30.02 billion, a P/E ratio of 245.58 and a beta of 0.97.

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

Hedge Funds Weigh In On Cameco

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

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.

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