Cameco (NYSE:CCJ) Trading 3.1% Higher Following Analyst Upgrade

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO rose 3.1% during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from $90.00 to $100.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cameco traded as high as $70.10 and last traded at $70.37. Approximately 1,403,895 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 4,411,614 shares. The stock had previously closed at $68.27.

A number of other brokerages have also recently weighed in on CCJ. Desjardins assumed coverage on shares of Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Scotiabank restated an "outperform" rating on shares of Cameco in a report on Wednesday, May 14th. Finally, Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $77.30.

Institutional Trading of Cameco

A number of large investors have recently added to or reduced their stakes in the stock. Hurley Capital LLC purchased a new position in Cameco in the fourth quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Cameco in the 4th quarter valued at $28,000. Manchester Capital Management LLC boosted its position in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after buying an additional 300 shares during the period. Whipplewood Advisors LLC purchased a new position in Cameco during the 4th quarter valued at about $33,000. Finally, Dagco Inc. purchased a new position in shares of Cameco in the first quarter worth $28,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

The stock has a market capitalization of $32.43 billion, a price-to-earnings ratio of 186.23 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The firm's 50 day moving average is $55.52 and its 200-day moving average is $50.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its 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). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. Analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.