Cameco (NYSE:CCJ) Shares Up 3.2% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price rose 3.2% during trading on Monday . The stock traded as high as $45.88 and last traded at $45.96. 703,080 shares changed hands during trading, a decline of 83% from the average daily volume of 4,083,351 shares. The stock had previously closed at $44.53.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Glj Research increased their target price on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Stifel Nicolaus began coverage on Cameco in a report on Wednesday, March 12th. They set a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Finally, Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Performance

The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $47.03 and a 200-day moving average of $50.18. The stock has a market capitalization of $19.81 billion, a price-to-earnings ratio of 162.55 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. As a group, sell-side analysts anticipate that Cameco Co. will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cameco by 29.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 1,439 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in Cameco in the fourth quarter valued at $4,839,000. Copia Wealth Management bought a new position in shares of Cameco during the fourth quarter worth about $39,000. Polar Asset Management Partners Inc. increased its holdings in shares of Cameco by 337.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 98,376 shares of the basic materials company’s stock worth $5,055,000 after acquiring an additional 75,876 shares during the period. Finally, Hall Capital Management Co. Inc. bought a new stake in Cameco in the 4th quarter valued at about $204,000. 70.21% of the stock is owned by institutional investors and hedge funds.

About Cameco

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.