Cameco (NYSE:CCJ) Stock Price Up 5.7% - Here's What Happened

Key Points

• Cameco shares jumped 5.7% to about $92.42, reaching an intraday high of $92.46, though trading volume was 52% below its average.
• Analyst sentiment remains favorable, with 12 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $148.68.
• Cameco’s latest quarterly results fell short of expectations: EPS was $0.13 versus the $0.26 consensus estimate, while revenue declined 6.8% year over year to $573.06 million.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO was up 5.7% on Tuesday. The stock traded as high as $92.46 and last traded at $92.4230. Approximately 1,685,831 shares were traded during trading, a decline of 52% from the average session volume of 3,509,266 shares. The stock had previously closed at $87.47.

Analyst Ratings Changes

CCJ has been the topic of several recent research reports. Jefferies Financial Group began coverage on Cameco in a research note on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price target on the stock. Barclays reduced their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 4th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Bank of America reduced their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Royal Bank Of Canada upped their price target on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $148.68.

Cameco Stock Up 7.7%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The company's 50-day simple moving average is $94.87 and its 200 day simple moving average is $102.71. The firm has a market cap of $41.03 billion, a P/E ratio of 159.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analysts' expectations of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company's revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. Research analysts anticipate that Cameco Corporation will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC purchased a new stake in shares of Cameco in the first quarter valued at approximately $30,000. Brown Lisle Cummings Inc. grew its position in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after buying an additional 288 shares during the last quarter. Western Wealth Management LLC purchased a new position in Cameco in the first quarter worth $39,000. CX Institutional grew its stake in Cameco by 2,181.2% during the 3rd quarter. CX Institutional now owns 365 shares of the basic materials company's stock worth $32,000 after buying an additional 349 shares during the last quarter. Finally, Copos Capital S.a r.l. acquired a new position in shares of Cameco during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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