Cameco (NYSE:CCJ) Shares Up 5% on Analyst Upgrade

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's stock price was up 5% during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $65.00 to $78.00. The Goldman Sachs Group currently has a buy rating on the stock. Cameco traded as high as $67.41 and last traded at $67.01. Approximately 3,051,178 shares changed hands during trading, a decline of 35% from the average daily volume of 4,669,844 shares. The stock had previously closed at $63.83.

Other analysts also recently issued research reports about the stock. Desjardins began coverage on shares of Cameco in a report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They set a "buy" rating on the stock. Finally, Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Cameco currently has an average rating of "Buy" and a consensus price target of $75.63.

Institutional Trading of Cameco

Several hedge funds have recently modified their holdings of CCJ. Sierra Ocean LLC purchased a new stake in Cameco during the fourth quarter valued at $25,000. Hurley Capital LLC purchased a new stake in shares of Cameco during the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Cameco during the 4th quarter valued at about $28,000. Manchester Capital Management LLC raised its position 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 valued at $25,000 after buying an additional 300 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Cameco during the 4th quarter valued at about $33,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock 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 business has a 50-day simple moving average of $49.54 and a 200-day simple moving average of $49.45. The firm has a market capitalization of $28.64 billion, a PE ratio of 234.96 and a beta of 0.97.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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). Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. During the same quarter in the previous year, the company posted $0.13 EPS. The business's quarterly revenue was up 24.4% on a year-over-year basis. Equities research analysts expect that Cameco Co. 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.