Cameco (NYSE:CCJ) Stock Price Up 1.4% on Analyst Upgrade

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 1.4% during mid-day trading on Thursday after Barclays upgraded the stock to a hold rating. The stock traded as high as $106.90 and last traded at $105.4740. Approximately 2,884,693 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 3,818,731 shares. The stock had previously closed at $104.02.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after acquiring an additional 110,629 shares in the last quarter. NWF Advisory Services Inc. bought a new stake in Cameco during the third quarter worth approximately $1,996,000. Mediolanum International Funds Ltd grew its holdings in Cameco by 165.5% during the third quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock valued at $2,894,000 after purchasing an additional 21,361 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Cameco by 278.3% during the third quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock valued at $12,208,000 after purchasing an additional 106,987 shares during the last quarter. Finally, Myriad Asset Management US LP bought a new position in shares of Cameco in the third quarter valued at approximately $1,640,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

The stock’s 50 day moving average price is $113.20 and its two-hundred day moving average price is $107.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The firm has a market capitalization of $45.61 billion, a price-to-earnings ratio of 96.96, a PEG ratio of 1.78 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. On average, equities research analysts anticipate that Cameco Corporation will post 1.32 EPS for the current year.

About Cameco

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.