Cameco (NYSE:CCJ) Trading Up 3.5% – Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were up 3.5% on Tuesday . The company traded as high as $108.96 and last traded at $108.41. Approximately 2,887,368 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 3,796,963 shares. The stock had previously closed at $104.75.

Analysts Set New Price Targets

A number of research analysts have weighed in on CCJ shares. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Weiss Ratings lowered Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. William Blair began coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

Cameco Stock Performance

The stock has a market capitalization of $47.22 billion, a PE ratio of 100.38, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The firm’s fifty day moving average is $112.99 and its 200-day moving average is $107.28. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. As a group, research analysts anticipate that Cameco Corporation will post 1.32 earnings per share for the current year.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vestor Capital LLC purchased a new stake in Cameco in the 1st quarter valued at about $42,000. BankChampaign National Association purchased a new stake in Cameco in the 1st quarter valued at about $530,000. Groupe la Francaise raised its holdings in Cameco by 688.9% in the 1st quarter. Groupe la Francaise now owns 20,235 shares of the basic materials company’s stock valued at $2,197,000 after buying an additional 17,670 shares during the period. Western Wealth Management LLC purchased a new stake in Cameco in the 1st quarter valued at about $39,000. Finally, Tanaka Capital Management Inc. grew its position in Cameco by 31.6% in the 1st quarter. Tanaka Capital Management Inc. now owns 21,575 shares of the basic materials company’s stock valued at $2,343,000 after acquiring an additional 5,185 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.