Cameco (NYSE:CCJ) Stock Price Up 2.6% – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 2.6% on Friday . The company traded as high as $43.01 and last traded at $42.89. Approximately 905,892 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 4,105,709 shares. The stock had previously closed at $41.81.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCJ. StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. Stifel Nicolaus initiated coverage on Cameco in a research note on Wednesday. They issued a “buy” rating on the stock. Glj Research increased their price target on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Price Performance

The business has a 50-day moving average price of $48.01 and a 200 day moving average price of $49.91. The stock has a market cap of $18.44 billion, a PE ratio of 151.23 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, research analysts forecast that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Norges Bank bought a new stake in Cameco during the fourth quarter valued at approximately $188,595,000. FMR LLC lifted its position in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares in the last quarter. Driehaus Capital Management LLC grew its position in Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock valued at $115,398,000 after acquiring an additional 1,225,966 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock worth $518,443,000 after acquiring an additional 1,196,336 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

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.