Cameco (NYSE:CCJ) Stock Price Up 0.2% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price rose 0.2% during trading on Thursday . The stock traded as high as $46.25 and last traded at $44.81. Approximately 1,385,029 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,634,275 shares. The stock had previously closed at $44.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Price 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 stock has a market cap of $18.93 billion, a P/E ratio of 155.32 and a beta of 0.94. The company’s 50 day moving average price is $50.23 and its 200-day moving average price is $49.85.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dantai Capital Ltd boosted its position in Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after acquiring an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC acquired a new stake in Cameco during the fourth quarter worth approximately $895,000. Whalen Wealth Management Inc. bought a new stake in Cameco in the fourth quarter worth approximately $445,000. iA Global Asset Management Inc. bought a new position in shares of Cameco during the 3rd quarter worth approximately $5,305,000. Finally, Telemark Asset Management LLC grew its position in shares of Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

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.