Cameco (NYSE:CCJ) Hits New 52-Week High – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price hit a new 52-week high on Thursday . The company traded as high as $97.79 and last traded at $93.49, with a volume of 6013478 shares trading hands. The stock had previously closed at $93.19.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. TD Securities reaffirmed a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. Finally, UBS Group set a $102.00 price target on shares of Cameco in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Cameco presently has an average rating of “Buy” and a consensus target price of $89.55.

Cameco Trading Up 0.3%

The company’s 50 day simple moving average is $80.72 and its 200 day simple moving average is $66.70. The firm has a market cap of $40.70 billion, a price-to-earnings ratio of 107.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. The firm had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company’s revenue was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its stake in shares of Cameco by 35.7% during the third quarter. CWM LLC now owns 9,314 shares of the basic materials company’s stock worth $781,000 after purchasing an additional 2,451 shares in the last quarter. Gemmer Asset Management LLC acquired a new position in shares of Cameco during the third quarter worth $971,000. Pure Portfolios Holdings LLC grew its stake in shares of Cameco by 31.3% during the third quarter. Pure Portfolios Holdings LLC now owns 3,735 shares of the basic materials company’s stock worth $313,000 after purchasing an additional 891 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of Cameco during the third quarter worth $210,000. Finally, TABR Capital Management LLC acquired a new position in shares of Cameco during the third quarter worth $247,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.