Cameco (NYSE:CCJ) Trading Up 6.1% on Analyst Upgrade

Key Points

• Shares of Cameco jumped 6.1% to about $116.35 on Monday after Canadian Imperial Bank of Commerce raised its price target to $202, with trading volume roughly 27% below the average session.
• The stock carries a consensus analyst rating of “Moderate Buy” and a consensus price target of $150.40, with multiple firms (Goldman Sachs, RBC, Sanford C. Bernstein, GLJ) recently raising targets.
• Cameco recently beat quarterly estimates (EPS $0.36 vs. $0.29; revenue $874.6M vs. $782.1M), has a market cap around $50.7B and a high P/E (~120), and institutional investors own about 70% of the shares.

Shares of Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO shot up 6.1% during trading on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock to $202.00. The stock traded as high as $116.41 and last traded at $116.3470. 3,266,158 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 4,457,648 shares. The stock had previously closed at $109.68.

Other research analysts have also issued research reports about the stock. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Wednesday, January 14th. The Goldman Sachs Group restated a "buy" rating and set a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Royal Bank Of Canada upped their target price on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Finally, Glj Research restated a "buy" rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.40.

Institutional Investors Weigh In On Cameco

A number of large investors have recently modified their holdings of the business. Bison Wealth LLC increased its stake in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock valued at $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock valued at $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Cameco in the second quarter valued at about $74,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The stock has a market cap of $50.67 billion, a P/E ratio of 119.95 and a beta of 0.98. The stock has a 50-day simple moving average of $114.36 and a 200-day simple moving average of $96.52.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. Research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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