Cameco (NYSE:CCJ) Shares Up 5.7% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price traded 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 mid-day trading, a decline of 52% from the average session volume of 3,509,266 shares. The stock had previously closed at $87.47.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Bank of America dropped their price target on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Finally, Zacks Research downgraded shares of Cameco from a “hold” rating to a “strong sell” rating in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.68.

Cameco Stock Performance

The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $38.79 billion, a P/E ratio of 150.97, a P/E/G ratio of 1.89 and a beta of 1.17. The company’s 50-day moving average is $95.09 and its two-hundred day moving average is $102.48.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period last year, the company earned $0.71 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ausbil Investment Management Ltd increased its stake in Cameco by 714.3% during the 3rd quarter. Ausbil Investment Management Ltd now owns 5,700 shares of the basic materials company’s stock valued at $495,000 after buying an additional 5,000 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Cameco by 17.4% in the 3rd quarter. Venture Visionary Partners LLC now owns 3,157 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 467 shares during the period. Canandaigua National Bank & Trust Co. bought a new position in shares of Cameco in the third quarter valued at approximately $270,000. Congress Asset Management Co. bought a new position in shares of Cameco in the third quarter valued at approximately $11,195,000. Finally, CX Institutional increased its stake in shares of Cameco by 2,181.2% during the third quarter. CX Institutional now owns 365 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 349 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.