Cameco (NYSE:CCJ) Trading Up 1.5% - Here's What Happened

Key Points

• Cameco Corporation shares increased by 1.5% on Tuesday, trading as high as $89.03 before closing at $86.63, amid a trading volume decline of 16% from its average.
• Wall Street analysts mostly hold a positive outlook on Cameco, with one strong buy, fourteen buy ratings, and an average consensus target price of $89.55.
• In its latest earnings report, Cameco reported $0.51 EPS for the quarter, substantially surpassing the consensus estimate of $0.29, along with a year-over-year revenue increase of 46.7%.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shot up 1.5% on Tuesday . The stock traded as high as $89.03 and last traded at $86.63. 3,990,421 shares were traded during mid-day trading, a decline of 16% from the average session volume of 4,731,612 shares. The stock had previously closed at $85.31.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CCJ shares. President Capital raised Cameco from a "neutral" rating to a "buy" rating in a research note on Monday, September 22nd. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. The Goldman Sachs Group upped their price target on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Weiss Ratings reissued a "hold (c+)" rating on shares of Cameco in a research note on Saturday, September 27th. Finally, Glj Research reaffirmed a "buy" rating and issued a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $89.55.

Cameco Trading Up 1.5%

The firm has a market capitalization of $37.72 billion, a price-to-earnings ratio of 99.57 and a beta of 0.99. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $78.83 and its 200 day moving average is $64.78.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. The firm had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Equities analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acropolis Investment Management LLC lifted its position in shares of Cameco by 49.8% in the third quarter. Acropolis Investment Management LLC now owns 4,144 shares of the basic materials company's stock worth $348,000 after purchasing an additional 1,377 shares in the last quarter. Renaissance Investment Group LLC acquired a new stake in Cameco in the 3rd quarter valued at $4,092,000. Union Bancaire Privee UBP SA lifted its position in Cameco by 4.4% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 18,172 shares of the basic materials company's stock worth $1,524,000 after buying an additional 768 shares in the last quarter. Nilsine Partners LLC acquired a new position in shares of Cameco during the 3rd quarter worth about $459,000. Finally, Vigilare Wealth Management grew its holdings in shares of Cameco by 8.3% in the 3rd quarter. Vigilare Wealth Management now owns 13,386 shares of the basic materials company's stock valued at $1,123,000 after acquiring an additional 1,023 shares in the last quarter. 70.21% of the stock is currently 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.

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