Cameco (NYSE:CCJ) Shares Up 1.4% - Should You Buy?

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's share price was up 1.4% on Friday . The stock traded as high as $72.16 and last traded at $71.83. 1,312,606 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,544,278 shares. The stock had previously closed at $70.82.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CCJ shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Glj Research reaffirmed a "buy" rating and set a $75.27 target price on shares of Cameco in a research report on Thursday, June 12th. Desjardins started coverage on Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group boosted their target price on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $80.65.

Cameco Stock Up 2.6%

The stock has a market capitalization of $31.63 billion, a price-to-earnings ratio of 181.65 and a beta of 1.03. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $62.58 and a two-hundred day moving average of $51.67.

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 the consensus estimate of $0.18 by ($0.07). The business had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Atticus Wealth Management LLC acquired a new position in Cameco in the 2nd quarter worth about $34,000. Hurley Capital LLC bought a new stake in shares of Cameco during the 4th quarter worth about $27,000. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter worth about $28,000. Finally, SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter worth about $29,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.